Motivation … Hitting the “Hot” Button

23rd Mar 2009

A.

MOTIVATION … HITTING THE “HOT” BUTTON

How do you motivate people to perform more efficiently and productively? The answer, say motivational experts, is by fulfilling these five needs.

1. Economic Security; People must know that their time and efforts will be fairly rewarded.

2. Emotional Security; Employees really want to feel comfortable with (and trust) their employers. This means having a stable atmosphere.

3. Recognition; Employees should feel that good work will be appreciated and praised.

4. Self Expression; A stable business atmosphere ensures the employees have the right to voice their suggestions, communicate ideas and opinions without fear of retribution from management.

5. Self Respect; Good management goes out of its way to protect and build up the self respect of its workforce.

B.

THE PSYCHOLOGY OF WINNING PRICE STRATERGIES

Consumer response to pricing has much to do with psychology as with “hip pocket” economics. Customers react differently to different price ranges.

Under $1: End price in a 9. Customers only see the “tens”. An 83 cent item sells better than an 89 cent item.

$1 - $10.00; End price in a 5 or a 9.

$10 - $100 End prices in $ .25, $ .50 or $ .75. Customers believe this reflects fair pricing.

Over $100 Price in whole number and skip the two zeros.

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