Pricing behavior is fascinating and it is influenced by many things - like geography, culture, upbringing, industry etc.
We can learn so much by simply observing the world around us. Many years ago I was in Egypt at one of the markets and there was a stall with at least a dozen signs that read things like "hassle free pricing" and "hassle 10% extra". It was also in multiple languages. (I still have the photo too)
Now if you've been to a market in Egypt you know haggling is part of the process. This vendor was making a clear statement about his brand and customer experience people could expect. Also his sense of humor. It affected his pricing behavior and that of potential customers as well.
In this episode of Live with the Pricing Lady, I've got special guest Sophia Syed. She's the founder of Also Sophia and Boss It Club. Also Sophia focuses on helping break down barriers. They supply ethnic celebration products for minorities within North America and Europe and have been picked up by Walmart. She's fascinated by how different people, cultures and geographies relate to pricing...even the process that's involved. She'll share her own pricing journey. We'll discuss what she's observed, and how that's played into what she's done and what you should consider in your business.
Episode highlights:
0:00 Introduction
1:43 Who's Sophia
6:52 Pricing early on
8:09 Customer first
9:51 Observations around culture
14:16 The Relationship is center stage
18:24 The "price" shoppers
19:33 Message from the episode
Links:
https://boss-it-club.mykajabi.com/
https://alsosophia.com/
#pricingladylive
#entreprenuers
#smallbusinesses
