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MANAGING PRICE PERCEPTION with LILLIAN CHENG

MANAGING PRICE PERCEPTION with LILLIAN CHENG

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Prices and price information are quality and positioning signals. They are also stimuli that elicit perceptual and physical responses from buyers. The question is not as much whether buyers are “willing to pay” but rather, how buyers perceive value delivered. How to use pricing information to establish buyer perception of value is at the core of pricing management. This workshop focuses on exploring how price perception is formed, how much of a difference in price forms a difference in perception, how to nurture the perception, how to attribute
meaning of value to the price perception, and how to practice perceived-value pricing.

Attendees Will Learn:

  • The science of price perception
  • The role of price in signaling
  • The art in establishing, managing and nurturing price perception
  • How to measure and communicate value to customers
  • The fundamentals of perceived value pricing
  • How buyers respond to price stimuli and form value perceptions

LEVEL 400 COURSE | B2B AND B2C THEMED


Meet Your Instructors

Lillian Cheng
Partner - Cheng, Monroe & Associates

Lillian L. Cheng is an advisor and researcher in pricing and marketing strategy. She has taught at several universities and focuses her research in marketing channels, marketing strategy and pricing. She teaches marketing and pricing at
the National University of Singapore and works with companies globally.
She is co-author of Relativity: The Science of Price Perception with
Kent B. Monroe, (forthcoming), published by Business Expert Press.