Ep 102 : Professor Dr. Kai-Markus Mueller on Using Neuroscience to Optimize Pricing Strategies & Win Deals
Are we missing out on potential profits by not exploring your customers' willingness to pay more? How do we find the optimal price for your product?
\nWhat is NeuroPricing ? How neuroscience can help us in finding the "Goldilocks price" for your product ?
\nCan discounts trigger impulsive buying behavior? What is the science behind discount pricing strategies and their impact on consumer behaviour?
\nHow do we play the "The Invisible Game" of sales, using situational awareness, defensive and offensive strategies, and the Power of Free and the Power of Now ?
\nKai talks about the above questions and more as he takes us on a fascinating journey of neuropricing and B2B sales.
\nProfessor Dr. Kai-Markus Mueller is the mastermind behind NeuroPricing\u2122 and the Professor of Consumer Behavior at HFU Business School, Furtwangen University. Kai is a scientist, coach, keynote speaker, and an author. With a PhD in Neural & Behavioral Sciences, Kai is also the director of Pricing Research at Neurensics, a member of several influential boards, and the founder of a startup.
\nPlease connect with Kai on Linkedin https://www.linkedin.com/in/kaimarkusmueller/
\nPlease visit his website https://www.kai-markus-mueller.com
\nKai's book ,The Invisible Game on Amazon https://www.amazon.com/Invisible-Game-Secrets-Science-Winning/dp/1394152981
\nJagged with Jasravee is facilitated by Jasravee Kaur Chandra, Director- Brand Building, Research & Innovation at Master Sun, Consulting Brand of Adiva L Pvt. Ltd. Jasravee has over 20 years experience as a Strategic Brand Builder,Communications Leader and Entrepreneur.
\nPlease visit Jasravee at https://jasravee.com/
\nConnect with Jasravee on Linkedin at https://www.linkedin.com/in/jasravee/
\nEmail Jasravee at jasravee@theadiva.com
\nIndex
\n00:00 Preview & Introduction to Professor Dr. Kai-Markus Mueller
\n02:19 How Algorithmic Pricing Affects Perceived Value
\n08:51 Pricing Research for Starbuck Coffee -Could Sell at 33% Higher Price
\n09:19 NeuroPricing B2C Use Case : Frito Lay Pepsi
\n11:39 Selling Insurance - NeuroPricing B2B Use Case
\n13:49 Pricing Twitter with Elon Musk: A NeuroPricing Perspective
\n18:00 Neuroscience of Discounts: 70% Off on Neutralla Chocolate Spread in France
\n23:01 Fashion Industry Habituating Customers to Discounts
\n24:55 The Invisible Game of B2B Sales: Why Irrationality Plays a Bigger Role Than You Think
\n27:33 Psychology of Group Decisions : Why They're More Irrational Than Individual Ones
\n29:27 Situational Awareness in Sales: How a Salesperson Builds It to Increase Their Influence"
\n32:46 Anchoring: How It Influences Our Perception of Price and Value
\n36:05 Playing Defense: The Power of Saying No in Negotiations
\n40:26 Price = Maths + Story, Example of How Car Manufacturers Sell Metallic Colours & Finishes
\n44:35 Can You Taste the Price -How Pricing Affects Our Perception of Taste and Quality
\n47:11 Playing Offense: The Power of Influence in Sales
\n48:00 Choice Architecture: How It Determines Organ Donation Rates
\n50:23 The Power of Three: How Choice Architecture Can Influence Decision Making
\n54:10 Rapid Fire - Personally Speaking with Professor Dr. Kai-Markus Mueller
\n57:07 Connecting with Professor Dr. Kai-Markus Mueller
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\n#neuropricing #Pricingstrategy #NeuralPricing #pricingmatters #neuromarketing #consumerscience #Buyingdecisions #WinningDeals #OptimalPrice #Neuropsychology #ConsumerPsychology #choicearchitecture #consumerscience #B2Bselling #Discountpricingstrategy