The document discusses pricing strategies and tools for setting prices. It recommends mapping out substitutes and complements that buyers associate with a product as these anchor their thinking. It also suggests designing for both the intuitive and rational perspectives of buyers. Additionally, it proposes using value-based prototyping by setting a price below perceived value to incentivize purchases. Finally, it recommends building product assortments that increase utility and conversion rates.
20. Nice features - demand
Price
Downward sloping demand curves
based on utility and preference
Quantity
Demand
p
q
Elasticity of demand
(% change in q / % change in p)
p'
q'