Today's Revenue Management thought:-

This week we’ll discuss the 4 emotions behind price perception - Surprise, Doubt, Justification & Satisfaction

Your customers aren't tasked with determining pricing. An ideal price is one that meets acceptance but encounters some initial pushback. Predicting customer reactions to specific prices through direct inquiries is challenging because they themselves are uncertain about their responses.

Justification: Customers seek validation for the price through factors like quality, brand reputation, or unique features. If they perceive the value to outweigh the cost, they're more likely to accept it.

Have a profitable week !

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