Page 97 - Kai Coder News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Kai coder. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Kai Coder Today - Breaking & Trending Today
That sells these products. and kai, i m wondering, do you think, you know, are consumers more likely to be accepting of rising pricesjust because of all the information about inflation that we we re constantly hearing about? yes, absolutely. 0ur minds adapt very quickly to new situations. and a very important concept in that respect is anchoring. so if i am getting used to high numbers, also my price perception goes up and i am more much more willing to accept high prices. however, one problem from the corporate perspective is that if you train your consumers to become bargain hunters, it s very hard to retrain them to accept high prices. well, kai, economics would suggest that we we would always choose the best value. but that s that s not always the case. i m wondering, do consumers find reassurance in higher prices? ....
Written the book on this. it s called the invisible game the secrets and the science of winning minds and winning deals. kai markus mueller, a real pleasure having you on this show. and kai, let s start with this. what are some of the tips and tricks that retailers use? well, there is a wealth of them in consumer psychology. but i ll tell you a few of them. a very, very, very strong component is, for example, the default effect. so, for example, if you have a subscription, it renews by default and we have trouble thinking about the renewal, wejust let it go. then there are things like red signs for discounts. people have learned these things over and over that red signs give you pleasure. people believe that they get a good deal despite the fact that they are actually playing a game that is set by the company ....
That is a big issue. everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and and lots of pain on the seller side, which is completely unnecessary. kai markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i ll talk to you soon. thank you for having me. well, you know, in the end, it s the price in the shops that customers really care about. so what kind of pressure are they under to keep the costs low and how do they negotiate with their suppliers? well, to find out, i ve been speaking with the director general of eurocommerce. that s the organisation that ....
Expensive food habits. well, on that point, kona lasker haque, my friend. a real pleasure having you on the show, as always, and, kona, i ll talk to you soon. thank you so much. so there you go, that s the start of how prices get set. but how much does psychology play in the price that we pay for our shopping? well, my next guest has literally written the book on this. it s called the invisible game the secrets and the science of winning minds and winning deals. kai markus mueller, a real pleasure having you on this show. what are some of the tips and tricks that retailers use? well, there is a wealth of them in consumer psychology. but i ll tell you a few of them. a very, very, very strong component is, for example, the default effect. so, for example, if you have a subscription, it renews by default and we have trouble thinking about the renewal, wejust let it go. then there are things like red signs for discounts. people have learned these things over and over that red signs give yo ....
People believe that they get a good deal despite the fact that they are actually playing a game that is set by the company that sells these products. and kai, i m wondering, do you think, you know, are consumers more likely to be accepting of rising pricesjust because of all the information about inflation that we we re constantly hearing about? yes, absolutely. 0ur minds adapt very quickly to new situations. and a very important concept in that respect is anchoring. so if i am getting used to high numbers, also my price perception goes up and i am more much more willing to accept high prices. however, one problem from the corporate perspective is that if you train your consumers to become bargain hunters, it s very hard to retrain them to accept high prices. well, kai, economics would ....