Pricing strategies that trick customers cause disssatisfaction | Strategic Pricing Solutions
Last month I wrote a post Dealing with Customer Complaints in which I mentioned some personal dealings with Verizon that were unsatisfactory. In the post I wrote that it felt like playing Hunt the Wumpus. I also refer to it as a Where’s Waldo pricing strategy. I know Waldo is in there, in the form of something I won’t like, and I just have to find him. Unfortunately, if that is your reputation for pricing, you are going to have unhappy customers.
With Where’s Waldo Pricing, the reality of value you receive for the price you pay does not match perception. With Verizon, the misdirection happened multiple times. First I received a flyer in the mail offering an increase to 75 mbs download speeds from my current 50 mbs for a $10 per month increase. I had received those offers in the past and each time I called, that speed was not actually available at my house, however this time they said it was. When I told the sales rep I wanted to upgrade, he was happy to help. However, when he quoted me the new monthly rate, it was more than a $20 increase above my current rate. When I responded it should only be a $10 increase, he told me he was giving me their best price. After I protested and reiterated the flyer I received, he said he would be able to enter a credit so the price matched the flyer.
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Pricing strategies that trick customers cause disssatisfaction.
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