The Marketing Millennials Go-to-Market Plays #10: The Psychology of Pricing
Jun 11, 2025
Tamara Grominsky, an award-winning product marketer and former VP at Kajabi, dives into the fascinating world of pricing psychology. She explains the strategic use of price anchoring and how decoy pricing can nudge consumers towards desired purchases. Tamara shares that pricing isn’t just a revenue tool; it's a vital part of storytelling. Learn how to leverage visual hierarchy and compelling copy to reshape perceptions of value, making your marketing tactics more effective without altering your product.
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Price Anchoring Influences Perception
- Buyers struggle to know the true value of products without context.
- Price anchoring uses surrounding prices to influence perceived value and affordability.
The Economist's Decoy Pricing Test
- The Economist used a decoy price with a print-only subscription to boost combined subscriptions.
- Removing the decoy drastically reduced purchases of the combined offer.
Kajabi's SaaS Pricing Decoy
- Kajabi used a three-tier SaaS pricing with an expensive pro tier as a decoy.
- This made the middle 'growth' plan look like the best value and targeted buy choice.