Psychological Pricing in Practice

What is the course about?

What is included in this course?

This course comes with ten recorded sessions on the theory and the application of five psychological pricing concepts. A comprehensive workbook summarizes the content we cover and leaves you with references beyond this course. To reflect on the course and to leave you with further inspiration for your own business, we offer additional quizzes and exercises.

What is this course NOT about?

This is not a general pricing course. In our time together we focus on the application of psychology to pricing decisions.

This is not a random collection of psychological pricing effects. This course aims to introduce you to five psychological principles that you could apply to various settings and decisions. In this way, we make the best use of your time. Instead of showing you a plethora of effects, we combine theoretical principles and their exemplary application to real-life situations. This combination might spark your inspiration for deploying those principles also to your specific business context. If you are looking for a comprehensive collection of psychological pricing effects, we also offer further references in this course. 

Is this just another theory course?

No. To equip you with the background of why these effects work and show you how these might be applied in the real world, each concept is explained in a theory session and demonstrated in a practice session.

In real-time experiments, you experience psychological effects yourself that make this course both valuable and entertaining.

What if I still have questions?

You are covered. The course instructor engages actively with the discussion forum and facilitates Q&A sessions via email.

Course content

What will you learn?

Psychological Pricing in Practice takes you by the hand and guides you through five powerful psychological pricing concepts that influence customers' price perception and purchase likelihood. A theory session explains each concept. A practice session follows up and illustrates their application

We discussed the following groups of psychological pricing effects:

1. Anchoring Effects
2. Compromise & Decoy Effects
3. Bundling Effects
4. Price Number Effects
5. Computation Effects

All insights are backed by solid academic research, and the accompanying workbook provides respective references.

What is the target audience?

This course is for business owners, marketers, (ad) designers, and pricing managers.

If you want to understand how customers perceive your prices and what you can do about them. Then this is the right course for you.

What prior knowledge is required?

Beyond your time commitment and your curiosity, there are no further requirements.

This course assumes that you have about two hours of time, and you are eager to learn about psychological pricing.

Course instructors

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Dr. Markus Husemann-Kopetzky

Dr. Markus Husemann-Kopetzky is a passionate pricing researcher and experienced pricing manager. Currently, he researches behavioral pricing effects in B2C and B2B industries as a senior research fellow at the University of Paderborn, Germany. His work appeared in renowned academic journals such as the Journal of the Academy of Marketing Science and the Journal of Marketing Behavior and was cited by the daily press. In his professional career, he has held consulting and management positions in the financial services and retail industries for more than 12 years. In the past 5+ years, Markus was knee-deep into developing and executing pricing strategies as a Senior Pricing Manager for a larger online retailer before launching his consulting and training institute in 2021.