Price tells a story about your product
In this episode of the McGill Delve podcast, Professor Rim Hariss talks price strategies. Supply and demand, manufacturing costs, and other operational factors are important determinants of a product’s price. But beyond that, retailers can manipulate prices to tell a story about their brand.Professor Hariss explains how price skimming affects relationships with consumers, how price anchoring influences consumer behaviour, and the opportunities and risks of putting your products on sale.Rim Harris is an Assistant Professor of Operations Management at the Desautels Faculty of Management. This episode was inspired by her paper titled “Markdown Pricing with Quality Perception.” Read it here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3634129STAY IN TOUCHEmail: delve@mcgill.caYouTube: @McGillDelveInstagram: McGillDelveFacebook: DelveMcGillLinkedIn: McGillDelveMcGill Delve is the official thought leadership platform for the Desautels Faculty at Management of McGill University. Eric Dicaire hosted, edited, and mixed this episode. Saku Mantere composed the original music and is Delve’s Editor-in-Chief. Hosted on Acast. See acast.com/privacy for more information.