Summary of Sympathetic Pricing

June 2014 Global Trend Briefing

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Sympathetic Pricing summary
Personalize your prices to show you understand your customers and that you see them as human beings.

Rating

8 Overall

9 Applicability

9 Innovation

7 Style

Recommendation

Many brands claim that they value their customers, but not all of them show they care in a way that really affects people’s everyday lives. The trend analyst TrendWatching explains the importance of going beyond mere promises toward taking actions where it matters. Learn by example how your brand can become more benevolently “human”: Experiment with pricing in a way that shows your company cares about people’s everyday troubles. For its new, hands-on approach, getAbstract recommends these findings to all business executives who want to show their customers they care.

In this summary, you will learn

  • What “sympathetic pricing” entails
  • Why brands should adopt this pricing strategy
  • How some businesses already use sympathetic pricing
 

Summary

Consumers today tune out the numerous claims and “vague promises” that brands make to convince customers that they care. Still, consumers want to see “human brands” that accept social responsibility and actually demonstrate care and purpose where it affects individual people’s lives.

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About the Author

The trend analyst TrendWatching scans the globe for consumer trends, insights and related hands-on business ideas.


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