INDEX

 

  • A-B-C analysis 139–40, 141
  • accountability 114, 115
  • actionable difference 158, 174
  • add-on services 197
  • affirmative goal 115
  • agenda setting 212
  • agility 92
  • Akerlof, George 69, 70, 77
  • algorithms 25, 85
  • allies 210–12, 221
  • Amazon Prime 186
  • amygdala 108
  • anchoring
    • concept 53–63
    • application 171–4
  • anger 73
  • appearance 44
  • arbitrary association 65
  • Ariely, Dan 57, 186, 187
  • Arkes, Hal 152
  • artificial intelligence (AI) 25, 85
  • Asda 18
  • assignment objective 45
  • Atlantic, The 70
  • attention span 23
  • autopilot
  • availability heuristic 42–3
  • average price 85

 

  • Banker Effect 211
  • Bargh, John 110
  • barriers to protect a company's profit pool from 89
  • base-rate neglect 10
  • bean counter stereotype 42–3
  • Beckham, David 18
  • behavioural economics 4, 8–13, 61, 69, 85, 86, 164
  • Belichick, Bill 17
  • biases
    • concept 10, 12
    • business applications 45–6, 185–189
    • present 185
    • zero-risk 185
  • blackout moment 77
  • blink 43
  • Blumer, Catherine 152
  • Boston Consulting Group (BCG) 93, 165
  • bottom lines 89
  • brain power 73–4
  • break-even analysis 86
  • breaks, need for 24
  • Brough, Aaron 195
  • budget calendar 147
  • bundling 191–200
  • business-as-usual situations 25
  • buy one, get one free offer 186
  • buyers, dominant response 147–8
  • buyers tactics 12, 169
  • buying decisions 69, 137, 192, 196, 201

 

  • Cacioppo, J.T. 10
  • CalTech 64, 71
  • Campbell, Sol 18
  • capabilities 51, 141–4, 210
  • ceiling price 85
  • Chaiken 10
  • challenger 149
  • change 2
    • action or attitude 96
  • Cheerleader Effect 211
  • Chernev, Alexander 195
  • Choice 9, 145, 168, 188, 195, 203, 206–8
  • choice architectures 137, 169, 208
  • Chung-Chau Chang 203
  • closed questions 25
  • clothing see dress
  • Coco Chanel 43
  • cognitive dissonance 96, 97, 103
  • comfort zone 105–18
  • commissions 90
  • communication
    • non-verbal messages 45
    • silence, power of 126
    • agenda and minutes 212–215
  • communication style 45
  • competitive
  • complexity 52, 84
  • compromise 36
  • compromise effect 203
  • concession 36
    • innocuous 83
  • confidence 69
  • confirmation bias 46
  • conflicting information 52
  • conflicts of interest 98
  • consultants 168
  • contractual matters 98
  • contrast 60
  • cortisol 111
  • cost change 164, 167
  • coupons 81
  • courage 31, 59, 153, 188
  • credit-card transactions, 201–2
  • culture and gestures 27
  • currency fluctuations 189
  • customer segmentation 138

 

 

  • Eaton, Adam 29–30, 31, 77
  • Einstein, Albert 54
  • Eisenbichler, Romy 211
  • elaboration likelihood model 10
  • electronic reminder 116
  • elephant and the rider metaphor 10
  • endowment effect 3, 149–50
  • Ergz company story 71
  • European Championship (2004) 2004 England–Portugal match 18–19
  • evolutionary psychology 12
  • expectations management 212
  • experience 51
    • lack of 55–6
  • extremeness aversion 202, 203

 

 

  • Gains
  • Galinsky, Adam D. 60
  • Geertz, Clifford 102
  • gifts 143, 150, 187
  • Gladwell, Malcolm 43
  • Glasswhere company story 71
  • golden middle 208
  • Good Samaritans experiment 120, 121
  • goodwill 81
  • graspable items 117
  • gross margin 87
  • Great Recession 4
  • gross price 85
  • group bonding 102
  • growth 4, 96, 162, 188
  • Grove, Andy 47

 

  • Haidt, Jonathan 10
  • halo effect 81
  • happiness 73
  • hard skills 29
  • heuristic and systematic processing 10
  • headshake 27–8
  • heuristics 10
  • hierarchical burdens 89
  • hierarchy, company 44
  • high-risk situations 115–16
  • high stakes 82, 115
  • history vs. legacy 150
  • homo economicus
    • concept 70
    • discounts, analysis 85–88, 92, 103
    • value perception ort Prospect Theory 154, 156, 179, 186
  • Hsee, Christopher 194
  • Hsin-Hsien Liu 203
  • Huber, Joel 207
  • hurdles for other party to overcome 209–10
  • hyperbolic discounting 10, 167, 189

 

  • illusion
    • of numbers 53–67
    • of stability 46
    • of success 36–37, 46
  • illusory-truth effect 40, 41
  • implementation deadline 147
  • incentive systems 90
  • incremental value 195
  • incumbent 3, 150, 153
  • individual business owner 70
  • inflation 161, 181
  • influencer 93
  • innovation 141
  • information
    • providing 52
    • repeating 52
  • intentional behaviours
  • intuitive behaviours
  • investment 104, 140, 143, 152–3
  • irrational 28, 97

 

  • job titles 44
  • judgment calls 10–13
  • Juran, Joseph M. 140
  • just noticeable difference 158

 

 

  • Lagerfeld, Karl 43
  • language 3, 194
  • leading indicators 173
  • leading questions and statements, influence of 214
  • legacy vs. history 150
  • Lehmann, Sonja 211
  • less is better 193–5
  • Lieberman, Matthew 166
  • LinkedIn 50
  • list price 174
  • Loewenstein, George 58
  • looking forward, not backward 115–16
  • losing, pain of 97–9
  • losing face 100–3
  • loss aversion 208
  • low-risk situations 113
  • loyalty discounts 113, 150, 186

 

  • magnetic resonance imaging (MRI) 64, 166
  • Major League Baseball World Series (2019) 29–30
  • margins
  • market standardization 197
  • Mazar, Nina 186
  • medial orbitofrontal cortex 65
  • medium-risk situations 113–15, 139
  • meeting, timing and duration of 212
  • Meier, Urs 18, 19, 20
  • mental chronometry 6
  • messages, short, urgency and 52
  • microsweating 116
  • Milkman, Katy 116, 117
  • mindset 49
  • minutes, writing 212, 213–15
  • Mises, Ludwig von 70
  • Mittal, Vikas 165
  • monkey business illusion 51, 146–7
  • multiple choice 25
  • multiple signoffs to escalation procedures 89

 

  • need to belong 11
  • negotiation 12, 20, 31
    • comfort zone 105
    • framing 55–61, 121
    • paper vs. personal power 137–44
    • prospect theory 99, 178
    • Starlight case 130–2
    • stereotyping 42
    • social facilitation 82
    • success illusion 36
  • net price 85
  • network 210
  • network density 211
  • Neurensics 154
  • Neuroeconomics Laboratory at the California Institute of Technology see CalTech
  • neuroplasticity 107
  • NeuroPricing 8
  • neuroscience 4, 9–13, 61, 67, 69, 90, 154, 164
  • New Economy 92, 93
  • new price anchors 132, 133
  • New York's taxicab system 201–2, 203
  • niksen 23
  • ‘No’
    • as dominant response 84, 109–18
    • overcoming fear of 91–104
    • to discounts, difficulty in saying 88–900
  • numbers small 181

 

  • offence 12
  • Old Economy 89, 93, 141
  • open-ended questions 22
  • optimal price 85
  • organizational focus 146–7
  • organizational positions 44
  • ostracization, risk of 102
  • outcomes, exposure to 109

 

  • pain, price and 73, 103
  • pain point 146, 180, 184
  • pain of paying 201
  • paper power 212, 213
  • personal power vs. 137–4, 163
  • Pareto rule 139, 140
  • path of least resistance 103
  • Payne, John 207
  • PepsiCo 67
  • perception
    • Anchoring 56–7
    • decoys 204–8
    • influence 50
    • 1st move 61
    • language 194
    • memory 214
    • relativity 55
    • thresholds 157
    • power of free 187
    • price adjustment 162
    • price increase 181
  • performance improvement 20, 25, 61, 77, 82, 112, 130, 193
  • personal ‘radar’ 157–9
  • personal learning histories 12
  • personal power vs. paper power 137–44, 163
  • personality differences, genetics and 12
  • Petty, R.E. 10
  • pet project 153
  • plan for premieres 107–8
  • planning fallacy 154
  • Plassmann, Hilke 64
  • playing field, changing 130–3
  • pleasure, price and 65, 73, 103
  • position in the buyer's segmentation 144
  • Power, paper 135, 137–2, 163, 213
  • Power, personal 138–42, 209–13
  • ‘Power of 3’ 202, 203, 208
  • power of free 186–7
  • power of now 188–9
  • practice, exposure, practice 108–9
  • Prelec, Drazen 57
  • pre-postmortem 50
  • pre-programming automated behaviours 108
  • present bias 185
  • presentations 34
  • price 69–74
    • average prices 85
    • definition 64, 65, 91
    • and human emotion 73
    • fairness 164–8
    • feel-good 84, 169
    • illusion of 58
    • raising, without raising prices 168–9
    • taste and 64
  • price adjustments 161, 164–8
  • price anchor 59
  • price as burden 91
  • price discomfort 157
  • price elasticities by customer segment 85
  • price increases 161, 162–4
  • price negotiation guidelines 89
  • price of ‘yes’ 81–90
  • price recommendations 89
  • price thresholds 154–7
  • price–quality heuristic 65, 92
  • pricing calendar 168
  • process automation 93
  • product life cycle 173
  • profit-optimal selling price 154
  • prompts, use of 111, 116–18
  • proprietary value 196
  • prospect theory 99, 103–4, 178–82
  • Psyched Up vs. Psyched Out 75–9
  • Puto, Christopher 207

 

  • quarterly quota 147
  • questions
    • closed 25
    • ‘core’ and ‘cost’ 196–7
    • leading 214
    • open-ended 22
    • what if? 75
    • yes/no questions 25

 

  • Ramsay, Gordon 72
  • Rangel, Antonio 64
  • rational 28, 43, 85, 96, 97
  • rationalization 97
  • reassurance 3
  • rebate 187
  • relationship-building 3
  • relationships, customer 100
  • relativity 22, 53, 54, 60
    • perception 55
  • repetition as reinforcement 52
  • repetition of statements 41
  • re-pricing strategy 161–9
  • resentment 73
  • resilience 4
  • response times 7
  • risk aversion 146, 177
  • risks of making major mistake 140
  • risk-seeking 177
  • Rogers, Todd 116, 117
  • Roth, Gerhard 95
  • rule book, buyer 146

 

  • salesperson's mindset 13–14
  • Sapolsky, Robert 108
  • saturation point for information 23
  • scale 56, 59, 65, 66, 71, 202
  • scandalizing power 211–12
  • scenario planning 31
  • schema 48–50
  • Schiller, Robert 69, 70, 77
  • scrutiny 84
  • seating plan within meeting room 212
  • segmentation matrix 139, 141
  • self-fulfilling prophecies 97
  • self-inflicted stress factor 157
  • self-interest 97
  • self-optimization 97
  • self-steering team 92
  • service hogs 101
  • Shampanier, Kristina 186
  • short-term benefits 208
  • silence 126–9
  • Simonson, Itamar 202
  • Singapore After Care Association (SACA) 58
  • situational awareness
    • concept 12, 13
    • illusions 33
    • headshake 27, 28
    • ‘System 1’ 51, 52
    • training 17–20
  • situational experience 51
  • slow thinking see System 2
  • small numbers 181
  • snap judgement 19, 20, 30
  • social facilitation 82, 114
  • social media usage 25
  • soft skills 29
  • speed as success factor 92
  • stability illusion 33–6
  • standard consistent orders 174
  • standardization 140, 142, 197
  • Starbucks study 66–7, 154
  • Starlight case 130–2
  • stereotyping 42
  • ‘Stop doing’ 152
  • stoplight colour scheme 100–101
  • Storch, Maja 111
  • store credit card 113
  • stress 84
  • stress factors 83
  • submission forms 89
  • success factors 92, 218
  • success illusion 36–7
  • suitcase experiment 53–4, 56
  • sunk-cost fallacy 152–3, 154
  • supplier segmentation 138
  • switching costs 147
  • ‘System1’
    • concept 10, 11, 22, 23–4, 34
    • illusory truth effect 40, 41
    • importance of first impressions 41–48
    • risks and benefits of 26–28
    • autopilot 29
    • recognizing the power of 28–31
    • stability illusion 46
    • stereotyping 42
  • ‘System 2’

 

  • tail 139
  • take-it-or-leave-it behaviours 140
  • target price 85, 172
  • Terry, John 19
  • Thaler, Richard 3, 70
  • thresholds 157
  • time
    • allocation 140
    • frame 83
    • lag in decision making 9
    • pressure 84
    • and timing 120–5
  • timeouts 24, 124
  • tone 3
  • traffic signals 101
  • trained dominant response 84, 109–18
  • transactional behaviours 140–3, 172, 186
  • transformation, journey of 141, 142
  • transparency cost 197
  • trivial many 140
  • trust 3, 69
  • Tversky, Amos 157, 178, 181, 182, 202

 

  • Ultimatum Game 166
  • unbundling
    • ‘core’ and ‘cost’ questions 196–7
    • vs. bundling 198–200
  • uncertainty 125–6
  • untrained dominant response 81–2, 90, 92, 96, 101, 103, 104

 

 

  • wait-and-see stance 78
  • waiving of fee 83
  • walkaway price 85
  • Weber, Ernst 158
  • what if? questions 75
  • willingness to discount 89
  • willingness to pay 69, 154
  • wine and price level, brain response to 66–7

 

  • ‘yes’
    • to discount 89
    • as dominant response 85
    • science behind 93–103
  • yes/no questions 25

 

  • Zajonc, Robert 76–7, 82
  • zero point 99
  • zero-risk bias 185
  • Zoom call 116
  • ZRM (Zuercher Ressourcen Modell, or Zurich Resource Model) approach 111, 112, 113, 117
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