#15 | The invisible game: enhancing performance with brain science

Do people automatically look for the lowest price? And under what circumstances are we prepared to pay more? These are the interesting questions we’ll be discussing today. We weren’t even concerned with these issues until relatively recently because there is no evolutionary pressure urging us to automatically search for the lowest price. Nevertheless, pricing has evolved into one of the most important economic levers, which raises the question of how pricing impacts businesses and consumers. This is where it gets interesting because our thoughts tell us a number of things about our perception of prices.

It’s worth taking a look inside our brains to discover what they are, according to neuroscientist Professor Kai-Markus Müller. His NeuroPricing method reveals what people really think about prices in a matter of milliseconds. It works before our conscious perception kicks in and we start thinking tactics, which is why NeuroPricing delivers fascinating and important insights into consumers’ minds. 

The secret of the invisible game is equally interesting. How can businesses effectively prepare their customers for price increases? Perception also plays a central role in this process because price adjustments are to some extent below the perception threshold – and therefore invisible. That’s an important insight for businesses, especially when they are putting their prices up. 

Müller uses his Invisible Game method to answer other interesting questions such as: How can I train my subconscious to be aware of and respond situationally to the invisible game? Or why is the success of a business so closely linked to its sales strategy?

Professor Kai-Markus Müller provides the answers to these questions and other insights in his new book and in the latest LeaderTalk with Georgiy Michailov, Managing Partner at Struktur Management Partner. They discuss relevant aspects of pricing as well as the issues of when we are willing to pay higher prices and how businesses can improve their profits with NeuroPricing. Müller also shares the pricing mistakes that major international chains such as Starbucks make, and explains why price increases should always be properly justified.

*Video only in German