Pricing Concept: The Eight Psychological Affordances of Price

The price has the ability to produce a range of specific effects on the customer. They are predictable, influential, and actionable.

Among the most powerful and under-utilized aspects of price is its psychological affordance – its ability to produce a range of specific effects on the customer in a particular context.  When considering psychological affordance, think of the price as a stimulus that the customer encounters in a context that is unique with respect to time, place, and mi…