Pricing Strategy Paper Published in BE Guide
Posted: 04/09/2024
Our report, “Pricing Strategy: The Lessons of Inflation“, by Henry Stott, Benny Cheung, Jerry Luukkonen and Alice Pearce, has now been published in The Behavioral Economics Guide 2024 from BehavioralEconomics.com.
In this report, we look at lessons from inflation. The Cost of Living crisis has delivered inflation levels in the UK, US, and EU not experienced for a generation. Painful as this has been for many, it has also generated a unique dataset on how people perceive, interpret, and alter their behaviours in response to large and well publicised price rises. In effect, with inflation varying from sector to sector, the UK has inadvertently undertaken a large-scale, natural experiment into the dos and don’ts of increasing your prices.
We combine that unique field data with our own Behaviourlab experiments to extract and explore those insights. We provide key recommendations for Pricing teams who need to implement future price rises, Commercial teams who want to forecast the effects of those rises, and Marketing teams who need to manage price communications.
You can read the BE Guide via the link below: