Psychology of Price: The Markup and Markdown Game
Looking to improve inventory productivity and control?
Retail Pro International and ManagementOne, the consulting brains behind Retail Pro Planning Open to Buy software, have joined forces to bring retailers a 3-part Retailer Success webinar series on principles and tactics that will help you manage inventory better and compete profitably.
August 8 | The Psychology of Price: The Markup and Markdown Game
October 10 | Metrics that Matter
December 12 | 6 Essential Elements of a Winning Independent Retail Strategy
Save your spot for the next sessions by registering here.
In this first session, ManagementOne’s Director of Marketing and Sales, Paul Erickson, shares pricing psychology and strategies that retailers should consider to determine price, rather than simply applying a markup formula based only on item cost.
With the issue of pricing consistency across physical and digital channels hotly debated among retail strategists and consumers alike, determining smart pricing strategies is a top priority for many retailers.
For all our Retail Pro users out there, here’s a quick refresher on efficiently managing price changes in Retail Pro.
Watch the webinar and follow along with the slides below!
- See why the lowest price is not always the right price
- Explore the psychology of price from the retailer and consumer’s point of view
- Learn tactics to remain competitive and maximize long-term profits