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Price Psychology: The Psychology Behind Setting Legal Fees with Dr. Kai-Markus Müller
Manage episode 374281636 series 2977729
Το περιεχόμενο παρέχεται από το Karin Conroy. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Karin Conroy ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
In this episode, Dr. Kai-Markus Müller joins me to discuss and understand the psychology behind pricing models and pricing structure, and how to better frame legal fees.
Kai-Markus Mueller is a Professor of Consumer Behaviour at HFU Business School of Furtwangen University in Schwenningen, Germany, and Director of Pricing Research at Neurensics, Amsterdam. He previously founded and ran a start-up where he developed NeuroPricing™, a suite of neurotechnology-based methods to measure and model the optimal price – meanwhile acquired by Neurensics. Before, Kai gained experience both as a neurophysiologist at the US government and as a strategy consultant with an international management consultancy. He holds a PhD in neuroscience.
His work has been featured by the BBC, Forbes, Businessweek, ZDF, Der Spiegel and many more. His latest milestone is a book co-authored by top sales expert Gaby Rehbock titled “The Invisible Game – The Secrets and the Science of Winning Minds and Winning Deals”.
Kai-Markus gives listeners actionable tips on:
- [4:00] The main mistakes lawyers make on discovery calls
- [7:15] Does a ‘payment threshold’ exist?
- [13:40] How to apply Kai-Markus’ research to attorney pricing strategies
- [14:50] The price quality heuristic
- [16:55] How to create perceived value without going too far
- [21:15] Tips build reassurance and trust
- [24:45] Changing value by how we frame things and understanding decoy pricing
- [32:40] Kai-Markus’ book review
- [36:00] One big takeaway from this episode
Resources mentioned in this episode:
Connect with Kai-Markus here:
- https://twitter.com/neuropricing
- https://www.facebook.com/kaimarkus.mueller
- https://www.linkedin.com/in/kaimarkusmueller/
- www.kai-markus-mueller.com
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