Marketing professor Mark Ritson recently hailed as a masterstroke, his local pub instituting dynamic pricing on busy Friday nights. Essentially the price of his pint went up 20p at busy times to cover extra staff, cleaning and no doubt ‘breakages’.
Makes sense economically and we’re used to such tactics from budget airlines, but Stickybeak can’t help wondering what the patrons of the Slug & Lettuce made of it?
But the fact is we all have to think about price and price changes (mostly up) at times and mostly we are guessing about the consumer reaction and the impact on sales and therefore profit.
But for as little as $350 you can test your new pricing by asking your consumers. In fact you can ask them four variations of price or offer to get a more contextualised answer with Stickybeak.
10% off or ‘discounted from $10 to $9? Which is more attractive?
Buy two get one free or 33% of a pack of three.
So to help you think through your pricing or promotional puzzles, how about one from us?!
For a limited time only……..buy one $350 pricing test and get one free!
Can’t say fairer than that. Keen? Flick us an email to support@stickybeak.co to claim your offer!
Here’s how food brand company James Crisp used Stickybeak to test pricing and offers. Or give it a go yourself and create a free login now.
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