Work & Career / A practical guide to using behavioral science for good

The Psychology of Pricing

Course by

Bf242d23128098251dea10d46daaee7c94c08212 Irrational Labs

Format

Email and Facebook Messenger

Time commitment

5 minutes a day for 22 days

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May 06, 2017

In our experience at Irrational Labs, we find that it’s the companies trying to help consumers become happier, healthier and wealthier that make the most mistakes valuing their products. This course will help you better understand these mistakes and how to avoid them. 

Have you ever been curious about questions such as:


  • Why people get so excited about buying things that are in short supply? 

  • What causes promotions to drive short-term spikes in sales yet become counterproductive over time?

  • When can offering a product for free actually be bad for the customer? 

In 22 short and fun lessons, you will learn the answers to these questions as you are introduced to key concepts from the field of behavioral economics. You will get examples and exercises to help you take what you’ve learned and apply it to the pricing and promotions of different products and services.

This course is primarily for product managers, designers and creators of products and services that are helping improve people’s well-being

If you choose to apply any of these insights within your company, we ask that you answer one question before making any changes: “Will this make people better off?’ This simple rule of thumb will help ensure you’re making changes that improve your customer’s bottom line as well as your company’s.  

Enjoy!

Irrational Labs: Kristen Berman, Ingrid Melvaer Paulin, and Evelyn Gosnell 

In collaboration with Dan Ariely and Jason Hreha