past events

„BE@M“ me up!: Behavioral Economics as a driver for evolving MR

Thursday, 26 October 2017

Mexico City, Mexico

Keynote

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Behavioral Pricing

Wednesday, 2 August 2017

Atlanta, USA

Shifting the paradigm from ‘Value-based Pricing’ to leveraging ‘Behavioral Economics’ in B2C and B2B pricing

‘Value-based Pricing’ has been widely accepted as the best approach to pricing. Nevertheless, all classical pricing tools within this approach still build on the assumption that customers behave like the famous ‘homo oeconomicus’ – perfectly informed, selfish and rational decision makers with stable preferences. These assumptions are each contradicted by an overwhelming amount of insights from ‘Behavioral Economics’ and ‘Neuroscience’. Although this simplification facilitates mathematical modelling and arithmetical price optimisation, it totally ignores margins that arise from the predictably irrational decision strategies which can be found in every sector, be it B2C or B2B. In the end, this inhibits us from defining smarter pricing strategies which are able to leverage the frugal heuristics and systematic biases of the decisions “real” customers are making.

Building on a validated and award-winning framework as well as on many case studies from different industries ranging from B2C to B2B, the seminar will systematically convey insights that go beyond the classical assumptions and tools of pricing research and strategy. It will characterize Behavioral Pricing as a general approach to pricing that goes well beyond the classic value-based pricing paradigm. In the course of the seminar, we will show how you can develop more profitable pricing strategies by applying these insights to define price level, price structure, price dynamics as well as price communication.

As a participant of this eye-opening and hands-on workshop you can expect to:

 Discover Behavioral Pricing as a new pricing paradigm going well beyond the classic value-based pricing perspective
 Realize that the Behavioral Pricing approach enables you to develop an innovative pricing strategy systematically leveraging unexpected margin potentials hidden behind predictably irrational decisions
 Get an overview of recent research insights on human decision making that are helpful for deriving more successful pricing strategies – no matter in what sector you are working
 Discover a conceptual framework helping you to comprehensively leverage ‘Behavioral Economics’ in your pricing strategy instead of selectively applying often cited effects
 Discuss real-life examples that exploit these errors through appropriate price strategies
 Understand the pro’s and con’s of pricing tools like PSM or Conjoint Analysis and learn how to modify and complement these methods to avoid risks and pitfalls
 Get a clear perspective on how to effectively convert the insights into optimizing price level, structure, dynamics and communication

Once back at their office, participants will not only have a better understanding of the real-life decision process and the role that price plays in it, but will also be in a position to make concrete use of these findings for their own work and/or to optimise their own pricing strategy.

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Behavioral Pricing: Shifting the paradigm of Pricing

Wednesday, 24 May 2017

Hochschule für Wirtschaft und Recht Berlin | Badensche Straße 50–51, 10825 Berlin | Haus B, Raum B 4.04, Germany

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