Master Pricing Tactics with Marcos Rivera - Episode 116

Leadmore Podcast

We explore the world of pricing with Marcos Rivera, the author of “Street Pricing.” Marcos shares his expertise on how pricing combines business economics with human psychology. Learn the secrets behind charm pricing, bundle economics, and price anchoring. Marcos also answers the question, “how often should I change my pricing?”
If you’re a business owner or just curious about pricing strategies, this episode is packed with actionable insights. Learn why and how your pricing reflects your brand and the value you offer.
Show notes:
00:00:00 - Introduction to Marcos Rivera and Pricing Strategies: Overview of the episode and introduction to guest Marcos Rivera.
00:02:30 - The Intersection of Pricing, Economics, and Psychology: Understanding how pricing relates to business economics and human psychology.
00:06:00 - The Psychology Behind 99 Cents Pricing: Discussion on charm pricing and its psychological effects.
00:11:00 - Price Anchoring and Its Importance: Explanation of price anchoring and how it influences customer decisions.
00:16:00 - Effective Pricing Tiers and Bundles: Insights into creating effective pricing tiers and the Goldilocks effect.
00:22:00 - Mistakes in Pricing Strategies: Common mistakes entrepreneurs make in pricing and how to avoid them.
00:28:00 - Adjusting Prices Over Time: When and how to change your pricing strategy to stay competitive.
00:34:00 - Leveraging Data for Pricing Decisions: Using customer data and behavior to inform pricing strategies.
00:40:00 - Communicating Price Changes to Customers: Best practices for informing customers about price adjustments.
00:46:00 - Marcos Rivera's Superpower, Pattern Recognition: Marcos shares his superpower and how it helps him excel in pricing strategy.