Purchase decisions & pricing · 0:35
Why a Faster Result Can Be Worth Paying For
Customer urgency can shape willingness to pay. Shipping and transaction-processing examples show why the value of speed depends on the problem and the buyer.
IN THE CLIP
Transcript
Willingness to pay is, how much, how painful is this problem to me? How much am I willing to pay? So sometimes that can be on different dimensions. It can be, I do a lot of these things, so I need it to be really, really fast. So instead of a week for shipping, I need a day. Or instead of this transaction to process and take a bunch of time with a bunch of people reviewing a number of steps, um, that could take a week or 5 business days, I want to collapse that into like one or 2 business days.
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