Marketing Forum at Luxe Rodeo Hotel Rooftop - "Pay What You Want Pricing"
Tuesday, October 18, 2011 at 6:30 PM (PDT)
****You can't get tickets here anymore, but you are welcome to come to the event and pay $35 with cash or check.*******
Haas (Berkeley) and its Los Angeles Alumni Chapter Welcome You to an exciting Marketing Forum on the Rooftop Patio of the Luxe Rodeo in Beverly Hills
Featuring Haas (Berkeley) Marketing Professor Leif Nelson speaking on the topic "Pay What You Want Pricing". Restaurants, Music Retailers, Software Manufacturers, Video Games and many other industries are testing this strategy. How does this affect you as a consumer, business or client's business? Attend and find out.
Date: Tuesday October 18th - 6:30pm - 8:30pm
(appetizers, networking, no host bar, followed by presentation and Q&A)
Location: Luxe Rodeo Drive Hotel in Beverly Hills; penthouse suite, outdoor rooftop
360 N. Rodeo Dr. Beverly Hills
California 90210 USA
*Cost: In the spirit of the topic, we invite you to pay what you want for this event.
*A limited number of tickets "pay what you want price" sold out. Through Wednesday, October 12th, we are offering our second tier of early registration discount tickets at $20.00. Please sign up early for this offer.
Who Should Attend?
Professor Nelson will share ideas and case studies of how this topic touches all consumers and what we need to know about it as business people.
This event is a great networking and learning event for all types of marketing people, eCommerce leaders, digital marketers, advertising, entrepreneurs, investors, business owners and innovators.
Summary of Talk: Pay What You Want Pricing
In the past few years a peculiar pricing strategy has been used with increasing frequency: Pay-What-You-Want Pricing (PWYW). Under PWYW, a customer can set any price she wants (typically including $0) for a particular good or service. Restaurants, music retailers, software manufacturers, video games, and many other industries have used the strategy. Even music bands like Radio Head have made this pricing strategy famous. Can it be profitable? Can it ever be more profitable than traditional prices? Across a number of investigations, Professor Nelson has worked with firms to have them experimentally manipulate their prices to test the effectiveness of PWYW-pricing. What Professor Nelson has found is that, though there are some conditions under which PWYW fails, there are others under which it can be wildly successful. Perhaps most notably, many of these successful tactics are unexpected (and unfamiliar) to the firms, highlighting not only the short-term value in the tactics themselves, but also the long-term value implicitly tied to experimentation.
About the Speaker:
Leif Nelson is an Associate Professor of Marketing at the Haas School of Business at University of California, Berkeley. His research has looked at the factors influencing the enjoyment of experiences and the frequent observation that those factors are neglected by consumers. Leif has been published in a number of leading scientific and business journals and has been covered in the Wall Street Journal, the New York Times, the Economist and many other media outlets. His recent research has looked at Pay-What-You-Want Pricing including its potential role in sustainable efforts at corporate social responsibility. His education includes BA in Psychology at Stanford University, MA in Psychology at Princeton University and PhD in Psychology at Princeton University.
Please contact Haas LA Board Member and Event Organizer, Ted Cordova: firstname.lastname@example.org or 310-489-4972.
About the Organizer: Ted Cordova, Principal, The Incite Group (www.theincitegroup.com); marketing agency. CEO, Haberdasher (www.haberdasherstyle.com); a personal styling and shopping experience for gentlemen.