Negotiate Anything cover image

Negotiate Anything

Melina Palmer: How to Apply Behavioral Economics So Customers Buy

Jan 9, 2024
Melina Palmer, acclaimed author and instructor of applied behavioral economics, discusses the psychology behind pricing, hidden desires, and the importance of perceived value in pricing strategies. She explores the impact of psychological biases on negotiation and shares interesting examples like the pricing of grilled cheese sandwiches. Discover how to navigate buyer behavior and set irresistible prices.
52:33

Episode guests

Melina Palmer

Podcast summary created with Snipd AI

Quick takeaways

  • The psychology of pricing is crucial for increasing profitability, easing sales processes, and ensuring customer satisfaction.
  • To uncover hidden desires and effectively set prices, understanding the value your products or services provide to customers is essential.

Deep dives

Perception of Pricing and Value

Perception plays a crucial role in pricing and value. People often perceive higher prices as indicative of better quality or value. Research has shown that when people believe something is more expensive, they tend to enjoy it more and believe it is of higher quality. This perception can have a profound impact on how customers perceive and value your products or services.

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