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Business Talk with Michal Strahilevitz

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Pricing products and services is a challenge for companies ranging from new startups to multinational corporations. To better understand how Israeli companies should manage their pricing strategy, I turned to Professor Michal Strahilevitz, a leading authority on the topic.

Michal Strahilevitz, Ph.D. is a Marketing Professor at Saint Mary’s College of California in the US where she serves as the director of the Elfenworks Center for Responsible Business. She is also an Honorary Research Fellow at the University of Wollongong, in New South Wales in Australia. Prior to earning a Ph.D. at U.C. Berkeley, and becoming an academic, Professor Strahilevitz earned her MBA at Tel Aviv University and worked in advertising and marketing research. Her research focuses on consumer psychology, behavioral economics, and the role of emotions in human decision making. Her teaching includes a wide variety of marketing and behavioral economics courses as well as a new course on the Science of Happiness and Well-Being, which was featured on the Stanford Psychology Podcast. Michal Strahilevitz, Ph.D. (Courtesy)

Many marketing strategists think that if a product is priced higher than other products, it will be perceived as better by the consumer. Along this line, some claim to never discount a product because it lowers the brand value.

One of the advantages of keeping prices high is that many people equate higher prices........

© The Times of Israel (Blogs)

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