In this article I want to give you an overview over 8 strategies salesperson use to make your cash flow.
Soon we enter December and everyone of us will start to search for Christmas gifts. It is the month of the year in which the most profitable businesses are made for shops. Everyone of us has a limited budget of how much money one is going to spend for the gifts. But even if you say that you want to spend a limited sum of dollars you may surprise yourself that you will give out more than you actually propose to yourself. This can be explained by the way shops are using the price policy to bring you to buy as much as possible. Because the price itself transmits not only one number, but has many meanings to us consumers we are not aware of.
- They rise prices: this technique should suggest you that products have been improved in their quality level so you will spend more money on them, because you think that they are better than before.
- They want to make you feel like you are part of the upper class: By buying a expensive product you will feel like a wealthy person, who can afford to buy it. This consumer behavior is called “the snob effect”. In this way marketer try to attract only elite consumers.
- They put you under pressure: They make you an irresistible offer for the product you want to buy and give you the information that this offer is limited and the price will rise soon. In this way you panic yourself and take action immediately.
- They say that your idol loves this product: In this way people who admire famous people or influencers will surely want to possess the same product independently of its price.
- They make you an offer you cannot refuse: this is the smart-shopper effect in which you have the impression that you have made the biggest deal of your life by buying high quality products for the discount price.
- They apply the door-in-the-face technique: they offer you a product and before you actually refuse they offer you spontaneously a second product for the same price. In this way you will feel that you have to buy the product.
- They apply the foot-in-the-door-technique: they give you a product for free, but after the trial period you will have to pay a membership. You usually will accept this, because you have already received something for free.
- They apply the lowball technique: they make you to decide for a product and after this they say that you would need to buy other additional components of this separately, because they are not contained in the product price.
Maybe some of the displayed techniques will seem familiar to you when you go shopping next time. Nevertheless if you want to get more details about the meaning of price, please have a look at the books “Social Psychologie” by Akert et colleagues and “Wirtschaftspsycholgie” by Kirchler.