Episode 203 - Price Psychology: 14 Techniques That Make Price A Non-Issue – Part 3

Maximize Your Influence · Aug 30, 2017 · 1m

Reduce to the Ridiculousness (JND): This technique involves paring down your request to something that seems manageable, easier to comprehend or easier to monetize. Let's say you are trying to convince someone to purchase a life insurance policy. The client wants a $250,000 policy and you feel that is not high enough for his needs. To adequately take care of his family, you suggest a $500,000 policy. His perception is that the monthly payment for a $500,000 policy is too high. So you break it down for him, telling him that for an extra 50 cents a day, or the cost of a can of soda, he can…