The Science of Pricing for Value | with Isabel Macdonald

How do you price your product to reflect its full value?
Behavioral scientist Isabel Macdonald of Irrational Labs shares how to nail your pricing by understanding how your users perceive value, the psychology and emotions that drive willingness to pay, and the paying experience.
Topics covered:
​✅ How the perception of price and value are shaped
​✅ The art of mapping price to value
​✅ The key cognitive biases that influence price perception, including framing and the endowment effect (& how to address them)
​✅ The 5 core concepts of behavioral science in pricing
​... and more!
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[@FitoreKelmendi-fm1tg]

The principle of attachment was very interesting, and how endowment makes a product more valuable. Also the importance of storytelling to add value. I'll definitely make sure there is a story behind my next gift/ or when trying to sell a product to someone!

[@BirdsOfAFeather702]

Brilliant presentation, easy to understand examples, and valuable questions and answers - thank you!
Now create a cheesy acronym and become a famous book author:
Presenting - the VALUE framework
Viewpoint (Relativity)
Attachment
Loss (Pain of Paying)
Unfairness (Fairness)
Environment (Framing)
🙂