Lean Marketing It’s Not the Price—It’s What the Brain Thinks About the Price With Melina Palmer
7 snips
Jul 9, 2025 
In this engaging conversation, Melina Palmer, a behavioral economics expert and bestselling author, reveals the hidden dynamics of consumer behavior. She explains that pricing is more about perception than numbers. Melina discusses how concepts like scarcity and exclusivity can elevate a product's appeal, making consumers feel better about spending more. Key insights on B2B sales and avoiding common pricing mistakes provide actionable strategies for businesses. She emphasizes the importance of trust and personal branding in enhancing employee motivation and client loyalty.
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Psychology Over Price
- Buying decisions aren't primarily about price but about the psychology behind perceived value.
- If value perception is unclear or overwhelming, customers may claim price was the issue, but it's rarely the true reason.
Brand Identity Enhances Performance
- Nike's brand story helps people believe they can perform better by simply wearing the product.
- This brand identity fusion can genuinely enhance performance through a placebo effect.
Hermes Birkin's Scarcity Strategy
- Hermes' Birkin bag is a pricey luxury that's only available by sales associate invitation.
- This scarcity and exclusivity create desire and encourage loyalty through social dynamics.
