How could I help you the most?
Thinking about how I could help you the most during these turbulent times, I decided to collect and condense insights and lessons from past recessions for you. I systematically screened past research, worked through dozens of studies and created a chest of Nuggets:
- 58 cited sources
- 19 customer tendencies during economic crises
- 32 pricing strategies & tactics to consider
- 4 customer segments during recessions
- 4 customer segments emerging after recessions
- ...and much more.
[Free & Exclusive]
Whitepaper "Pricing Advice in Times of Crisis"
To give you a better impression on what you can expect from this whitepaper I share the introductory chapter below.
The Corona crisis hit the economy hard. As of May 2020, the US economy is expected to shrink by 11% year over year which corresponds to a 38% decline projected for the whole year.
It is all about people
The “economy” is an abstract term, but the economy is actually people.
In this whitepaper we look at people in their role as customers and consumers, and at pricing advise for companies. We want to understand how the current crisis influences customers, their attitudes and their behaviors. In particular, we want to find recommendations how companies should adjust their pricing and pricing communication accordingly to come out of the recession in good shape.
Insights backed by science
In the style of our Pricing Nuggets, we screened dozens of academic papers, carved out the core insights of those lengthy papers, and present you now these insights as polished nuggets. With this whitepaper we want to give you a chest of ideas and inspirations that hopefully helps you during these challenging times.
Previous financial crises, in particular the financial crisis of 2008, spurred a wave of research this whitepaper draws on (for an overview on research in this field please refer to Dekimpe & Deleersnyder 2018).
With this whitepaper we want to bring results from extensive research at your fingertips. We included studies that help us understand how customers behave differently during a financial crisis, what companies can do in response and how the world might look like after these turbulent times.
I sincerely wish you and your close ones all the best during these times – and hope this whitepaper leaves you with at least a tiny spark of inspiration that makes your business better off.
All my best,
Dr. Markus Husemann-Kopetzky
Pricing Researcher | Book Author | Founder of PsychologyOfPricing.com