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…