HOW$TO$PRICE$YOUR$PRODUCTS$ONLINE!by!BURC%TANIR%CEO$&$Co'Founder$burc@prisync.com!

TODAY’S$AGENDA$15$Pricing$Ma;ers!$

25$Cost'based$Pricing$

35$Market$Oriented$Pricing$

45$Consumer$Oriented$Pricing!

55$Conclusion$

65!A!li%le!surprise!:)!

PRICING$MATTERS!$Most%important%factor%%for%%60%of%online%shoppers.%%!even%higher%in%emerging%markets%

More%than%%90%of%shoppers%invest%?me%to%find%the%best%deals%online.%!more%than%10%mins%on%average%per%purchase%

Around%%20%of%website%traffic%come%from%Comparison%Shopping%Engines.%!way%higher%for%consumer%electronics%etc.%

COST5BASED$PRICING$MostJsimplis?c%approach%!not%only%the%product%cost,%but%also%the%overhead%web!shop%spending%

SeKng%the%desired%profitJmargin%!depending%on%the%market%niche%%and%market%compe==on%

You%can%be%undervaluing%yourself.%or%You%can%turn%out%to%be%uncompe??ve.%

EXTRA:!!RETAIL$SUGGESTED$PRICES$Brands/suppliers%may%want%to%sustain%a%consistent%online%pricing.%

Special%supplier%deals/rela?onship.%

Being%closely%monitored.%(be+er!be!co(opera1ng.!

MARKET$ORIENTED$PRICING$What%is%your%USP?!!value%or%price%related?%

Where%do%you%stand%alongside%your%compe?tors?%!lower%or%raise$prices.%

Penetra?on%pricing%

EXTRA:!!COMPETITOR$PRICE$$TRACKING$IT’S%A%MUST!%%2!of!online!prices!change!on!a!daily!basis.!

BeTer%get%automated.%email!alerts,!API!integra?ons!etc.!

Solid%ROI!%sales!and!profit!boost!for!affordable!monthly!fees.!

CONSUMER$ORIENTED$PRICING$Know%your%customers!%!would%they%pay%premium,%or%are%they%deal!hunters?%

Psychology%behind%the%purchasing%decision%!if%pricing%is%a%science,%it’s%a%mix%%of%economics%&%psychology.%

source:$nickkolenda.com$

EXTRA:!!PSYCHOLOGY$OR$PRICING$Theory%#1%Charm&Pricing&

19.9%vs.%20%The%conversion%rate%varies%almost%%100!%The%winner%is%easy%to%guess!%:)%

EXTRA:!!PSYCHOLOGY$OR$PRICING$Theory%#2JA%Ra-onal&Pricing&

Product:%Lenovo(S8(S898T(%

93.53%vs.%93%if%the%product%purchase%decision%depends%on%a%ra=onale,$first$opHon$wins!%

EXTRA:!!PSYCHOLOGY$OR$PRICING$Theory%#2JB%Emo-onal&Pricing&

Product:%Emoji(Cushion(Pillow(%

13.47%vs.%13%if%the%product%purchase%decision%depends%on%emo=ons,$second$opHon$wins!%

EXTRA:!!PSYCHOLOGY$OR$PRICING$Theory%#3%Smaller&fonts&

19.99%vs.%19.99%Even%more%effec=ve%when%contrasted%vs.%larger%font%reference%prices.%i.e.%from%29.99%etc.%

EXTRA:!!PSYCHOLOGY$OR$PRICING$Theory%#4%Numbers&with&fewer&syllables&&

27.82%vs.%28.16%7%syllables%vs.%5%syllables%If%same%in%text%length,%phone=cally%longer%price%will%be%perceived%higher%in%magnitude.%

CONCLUSION:!PRICING$IS$A$SERIOUS$$SUBJECT!$

TURN%PRICING$INTO%A%%MARKETING*WEAPON,%AND%A%CONVERSION*BOOSTER*%FOR%YOUR%E!COMMERCE%BUSINESS!!

THANKS$FOR$LISTENING!$:)$My$name$is,$BURC$TANIR$

My$email$is,$burc@prisync.com$

I$$$$$$$$E5COMMERCE!$

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