The Psychology of Price: How to use price to increase demand, profit and cu

While the title and introduction of the book are about psychology of pricing, the book itself should be named: “Pricing for dummies” or “Introduction for pricing ”. The book has very little to offer to business people and even less to offer to consultant. I am taking the time to write this review, since I really felt misled by the title and the introduction!I was expecting that the book will go deep into Prospect Theory examples of pricing (Kahneman and Tversky), and present practical examples of how to use psychology of pricing tactics in daily business life, such as how to increase price, how to communicate price increase, what effect consumer and what not (in a valid statistic way)… but the book doesn’t.The book does give some random, general idea about pricing tactics, but all of these examples are high level, rather than practical. It does not feel that the guy who wrote the book have real-life business experience. It feels like he has limited consulting experience that focuses on FMCG (80% of the examples in the book are related to a tea-pot company). There is limited/if any examples or logic of B2B, manufactures, distribution.Some of the examples in the book seems to be fake. For examples: tea pot company had manage to have a more expensive bundle price vs. single prices of each separate component (this doesn’t exist in real life. ) or AMAZON France sales increase significantly when the change the 1 EUR delivery approach into a free delivery approach - I find this hard to believe that sales increase significantly and that that customers are so sensitive to 1 EUR delivery.. ! I would find it much more reliable had the author made a reference to this claim or present real numbers in this example (and also others)Moreover, It has very limited references to academic research on decision making and pricing. There are many research papers out there, but it doesn’t seems that the author tried to make an effort to put some of them together in a friendly, easy to read way or even go deep into the topic and read this researches.Even as a “Pricing for dummies” book, I find it hard to find the logic and structure in this book. There are many better books out there.I was definitely looking forward to reading a good psychology of Price book, but unfortunately I am feeling like I have been deceived by the title. Here and there I did find some nice idea or food to think about in the book, however this is still a low-quality book. It does not worth the time or the money

It's a good read with clarity on basic points, and basics are the foundation of anything...

Wow! Every now and again you pick up a book that revolutionises the way you think, this book is one of them. It's opened up my eyes to all the options, I've known for a long time that money is an idea that can be manipulated but never quite applied that to pricing somehow.I love the way it's not too nerdy, it's clear, concise and listed out nicely with a good run down at the end of each chapter. You find yourself going 'Oh yeah!', you already fall for all the tricks in this book, you will continue to but at least you can be aware of it and apply it to your own business for maximised profits.

Author sums his experience as a whole. Work sheet behind every chapter is the best of the book. Still more literature or research could have been included in the book to make it more interesting. Yet the book doesn't fail in teaching you on how to price your product. Psychology of consumers related to price is captured in a practical way. Good book for beginners.

Brilliant book and it’s opened my eyes to the art of pricing. Easy read as well.