Ep 102 : Professor Dr. Kai-Markus Mueller on Using Neuroscience to Optimize Pricing Strategies & Win Deals

Jagged with Jasravee : Cutting-Edge Marketing Conversations with Thought Leaders

Are we missing out on potential profits by not exploring your customers' willingness to pay more? How do we find the optimal price for your product?

What is NeuroPricing ? How neuroscience can help us in finding the "Goldilocks price" for your product ?

Can discounts trigger impulsive buying behavior? What is the science behind discount pricing strategies and their impact on consumer behaviour?

How do we play the "The Invisible Game" of sales, using situational awareness, defensive and offensive strategies, and the Power of Free and the Power of Now ?

Kai talks about the above questions and more as he takes us on a fascinating journey of neuropricing and B2B sales.

Professor Dr. Kai-Markus Mueller is the mastermind behind NeuroPricing™ and the Professor of Consumer Behavior at HFU Business School, Furtwangen University. Kai is a scientist, coach, keynote speaker, and an author. With a PhD in Neural & Behavioral Sciences, Kai is also the director of Pricing Research at Neurensics, a member of several influential boards, and the founder of a startup.

Please connect with Kai on Linkedin https://www.linkedin.com/in/kaimarkusmueller/

Please visit his website https://www.kai-markus-mueller.com

Kai's book ,The Invisible Game on Amazon https://www.amazon.com/Invisible-Game-Secrets-Science-Winning/dp/1394152981

Jagged with Jasravee is facilitated by Jasravee Kaur Chandra, Director- Brand Building, Research & Innovation at Master Sun, Consulting Brand of Adiva L Pvt. Ltd. Jasravee has over 20 years experience as a Strategic Brand Builder,Communications Leader and Entrepreneur.

Please visit Jasravee at https://jasravee.com/

Connect with Jasravee on Linkedin at https://www.linkedin.com/in/jasravee/

Email Jasravee at [e-mail]

Index

00:00 Preview & Introduction to Professor Dr. Kai-Markus Mueller

02:19 How Algorithmic Pricing Affects Perceived Value

08:51 Pricing Research for Starbuck Coffee -Could Sell at 33% Higher Price

09:19 NeuroPricing B2C Use Case : Frito Lay Pepsi

11:39 Selling Insurance - NeuroPricing B2B Use Case

13:49 Pricing Twitter with Elon Musk: A NeuroPricing Perspective

18:00 Neuroscience of Discounts: 70% Off on Neutralla Chocolate Spread in France

23:01 Fashion Industry Habituating Customers to Discounts

24:55 The Invisible Game of B2B Sales: Why Irrationality Plays a Bigger Role Than You Think

27:33 Psychology of Group Decisions : Why They're More Irrational Than Individual Ones

29:27 Situational Awareness in Sales: How a Salesperson Builds It to Increase Their Influence"

32:46 Anchoring: How It Influences Our Perception of Price and Value

36:05 Playing Defense: The Power of Saying No in Negotiations

40:26 Price = Maths + Story, Example of How Car Manufacturers Sell Metallic Colours & Finishes

44:35 Can You Taste the Price -How Pricing Affects Our Perception of Taste and Quality

47:11 Playing Offense: The Power of Influence in Sales

48:00 Choice Architecture: How It Determines Organ Donation Rates

50:23 The Power of Three: How Choice Architecture Can Influence Decision Making

54:10 Rapid Fire - Personally Speaking with Professor Dr. Kai-Markus Mueller

57:07 Connecting with Professor Dr. Kai-Markus Mueller

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