Pricing & Selling during the crisis
EGN Group has invited Hardy C. Koth a Behavioural Economics consultant to give his perspective on this theme.
A worldwide economic crisis is about to challenge business environments everywhere. A downturn is the ultimate litmus test for any company’s pricing and selling strategy. In times like these, we need answers to the most fundamental questions:
• What insights and principles should guide our actions?
• What can we learn from previous crises in order to avoid a (long-term) deterioration of the bottom line?
• And why should we not always trust our first instinct about how to stimulate demand?
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In this EGN Group live webinar, behavioral pricing expert Hardy Koth of Vocatus AG will share valuable insights into common pricing and selling strategy pitfalls and thus help you avoid costly mistakes. By learning about state-of-the-art pricing & selling principles for both B2B and B2C, you can beat the crisis and stay ahead of your competition.
Behavioral Pricing & Selling (BPS) is the state-of-the-art approach to developing successful pricing strategies and implementing effective sales activities that harness the scientific knowledge from the field of Behavioral Economics. BPS systematically uncovers customers’ often ‘irrational’ decision making in B2B and B2C industries and provides the most effective decision architecture to optimize their purchasing behavior. BPS thus leverages pricing power beyond the pure product value, while bridging the gap between the pricing strategy and sales activities.
Hardy C. Koth has received his MBA and MA in International Relations from the University of Chicago. After serving as a member of the Management Team of Booz Allen Hamilton, in 1999 he co-founded Vocatus – a leading Behavioural Economics consultancy focusing on pricing & selling. His wide-ranging experience in successfully implementing pricing & selling strategies for B2B and B2C companies derives from a multitude of projects across all continents. Hardy has also (co-) authored various articles and books on Behavioral Economics, including in Harvard Business Manager and “The Irrational Customer”, Redline Verlag, 2014.