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Behavioral Pricing and Selling
Framework, methods and case studies

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This masterclass is available now ON-DEMAND for you to watch any time you like from wherever you like!

Per student fee includes 3 classes (120-minutes each), demonstrations, PDF slide deck, interactions with various content on the viewing platform, ON-DEMAND access for over a year.

Each attendee will also receive an ESOMAR attendance certificate after completing the training.

For more details, please contact our Content Team at events@esomar.org.

Overview

‘Value-based Pricing’ has been widely accepted as the best approach to pricing. Superior to gut-, cost- or competition-based pricing as it builds on better understanding of the customer’s value perception and resulting willingness-to-pay. Unfortunately, the classic value-based pricing model, as well as the respective tools like conjoint analysis, price sensitivity meter, Gabor-Granger etc., are still building on the assumption that customers behave like the famous ‘Homo economicus’ – perfectly informed, selfish and rational decision makers with stable preferences. Each of these assumptions has been contradicted by an overwhelming amount of insights from ‘Behavioral Economics’ and ‘Neuroscience’. In other words, value-based pricing is leaving significant margins on the table, as it is not really capturing the psycho-logics and predictable mistakes in human purchase decisions.

Starting with a short introduction to Behavioral Economics, we will develop ‘Behavioral Pricing’ as an alternative approach that acknowledges the valid aspects of value-based pricing but goes beyond them where they have proven to fail in reality. This will lead us to a validated and award-winning ‘Behavioral Pricing’ framework that defines the strategic pricing levers, as well as the implication this has on evolving existing methods and tools to measure price acceptance. All aspects are supported by many case studies from different companies in B2C and B2B sectors.

What will you learn?

  • What practical implications ‘Behavioral Economics’ has for pricing and sales
  • How to evolve above into a completely new framework that goes beyond value-based pricing
  • How to develop smarter pricing strategies, which are able to leverage the heuristics and biases of the decisions “real” customers are making
  • How to evolve the classic pricing methods to be able to capture the actual role of the price in a customer’s decision
  • How this translates into significantly higher conversion rates and margins in both B2C and B2B

Who should attend?

Marketing manager, insights manager, market researcher, sales manager, pricing manager

Suggested level of expertise?

If you have already collected experience in pricing and pricing research, this workshop is extremely well suited for you. However, it also provides a good introduction to people who are rather new to the field of pricing and sales.

Programme at a glance

  • Introduction to Behavioral Economics
  • Implications for Pricing and Sales
  • Strategic framework and case studies
    • Pricing
    • Sales
  • Toolbox and case studies

Your Trainer

Florian Bauer

Florian Bauer

Co-Founder
Vocatus
Germany

Florian Bauer, PhD, studied Psychology and Economics at the Technical University in Darmstadt, at MIT, and at Harvard University. He has devoted himself to research into behavioral economics and the psychology of pricing. In 1999 he co-founded Vocatus AG in Munich, an internationally operating pricing consulting company.

Since then, he and his team focused on systematically translating Behavioral Economics insights into a completely new pricing framework that proved to be superior to classic approaches in several hundred pricing and sales projects around the globe. Consequently, Vocatus has won numerous industry awards for their innovative work and tools.

For example, several ESOMAR Best Paper and Research Effectiveness Awards. Moreover, it has been named “Best Consultancy” in the area of pricing by BrandEins in 2016, 2017, 2018, 2019 and 2020. Besides his consulting engagements, he is an honorary professor at the Technical University of Munich.