24 min listen
Why these irrational prices actually work
FromNudge
ratings:
Length:
23 minutes
Released:
Mar 4, 2024
Format:
Podcast episode
Description
Every year $342 billion is spent on bottled water. And yet, for many of those customers a safer version, that tastes the same, is 300x cheaper. Our collective thirst for bottled water is largely irrational. It doesn’t make sense. But so, it seems, are the pricing strategies of several major brands, from fashion, to food, to flights, irrational prices often trump rational approaches. Today, Melina Palmer, host of the Brainy Business, explains why irrational prices surprisingly sell.
Melina’s podcast: https://thebrainybusiness.com/
Melina’s book (with free chapters): https://thebrainybusiness.com/nudge
Fiji ad: https://tinyurl.com/yufdwdj9
Cleveland Utilities Response: https://tinyurl.com/4hhh45wj
Melina’s podcast: https://thebrainybusiness.com/
Melina’s book (with free chapters): https://thebrainybusiness.com/nudge
Fiji ad: https://tinyurl.com/yufdwdj9
Cleveland Utilities Response: https://tinyurl.com/4hhh45wj
Released:
Mar 4, 2024
Format:
Podcast episode
Titles in the series (100)
#3: Why marketers want to know your habits: <p>Did you know that companies spend millions trying to discover when customers have kids? In this episode I chat to best-selling author Richard Shotton about the power of habit. He explains how life events encourage purchases, why those aged 49 are more likely to run a marathon and how Sainsbury’s used habitual marketing to generate billions in revenue.</p> <p>Link to Richard’s book https://www.amazon.com/Choice-Factory-behavioural-biases-influence/dp/085719609X </p> <p>Sign up to the mailing list: <a href="https://www.nudgepodcast.com/mailing-list">https://www.nudgepodcast.com/mailing-list</a></p> by Nudge