{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Chemical Show: Leadership Conversations on Strategy, Supply Chain, Innovation, Talent and Trends","title":"How Pricing and Behavioral Economics Impacts Business with Melina Palmer - Ep 171","html":"","width":"100%","height":180,"duration":2848,"description":"Behavioral economics is revolutionizing the business world with Melina Palmer, CEO of The Brainy Business, and Victoria Meyer on The Chemical Show®. Melina delves into the importance of social proof in influencing consumer decisions, showcasing how psychological principles can dramatically shape pricing strategies. Highlighting examples from luxury goods like the Birkin bag to New York City's $214 grilled cheese sandwich, she explains how scarcity, identity, and well-framed messaging can alter purchasing behavior irrespective of functionality.\nMelina will be a speaker at The Chemical Summit on October 8-9, 2024 in Spring, Texas.   For details and tickets, visit thechemicalsummit.com.\nVictoria and Melina discuss the profound impact language and framing have on decision-making, emphasizing the value of thoughtful communication in reducing stress and improving organizational efficiency. They share actionable insights on leveraging behavioral economics principles in B2B settings, experimenting with small focused tests, and leading teams with an openness to change and human-centric strategies. \n\nTune in to hear Victoria and Eric discuss the following topics:\nLife as a series of micro moments and micro decisions\nCommunicating with customers and getting them to buy your products\nThe Truth About Pricing and the rest of the story\nApplying behavioral economics to B2B markets\nLinguistics as a part of value, pricing, and negotiations\nAligning your business' communication and messaging\nEffective leadership in turning the tide more toward behavior centricity\n\nKiller Quote: \"Pricing is not just about the numbers; it's about the psychology and the framing of the message. The way you present your product's value can turn a simple sandwich into an exclusive, $214 experience.\" — Melina Palmer, The Brainy Business\n\n***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.\n***Like what you hear? Leave a rating and review.\n***Want more insights? Sign up...","thumbnail_url":"https://img.transistorcdn.com/rIWBq6x3GKwCrdS9ibBekoi3MKKGzbqaa2KvU21DRho/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mMjMz/ZTBmOTVlZWIyODA1/NDYwMDFhMTAzMzU5/OGEzNy5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}