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“Pay what you want” is a formula that produces a new form of marketing, and is aimed to deliver more appealing services and products to customers. The growing popularity of this trend is the direct investment that the customers have with their desired products. If it is possible to personalize every type of service or product in today’s society, then prices should also be negotiable.

To read subtitles in your language, click , then scroll over .

We have all, at least once, believed to have paid too much for something, whether it be a vacation, dinner, or cellular phone. It is now possible, however, to pay for a meal according to what we think is fair. “Pay what you want” is a formula that produces a new form of marketing, and is aimed to deliver more appealing services and products to customers.

Let’s see how this idea works. In Längenfeld, Austria 200 people were offered the possibility of a weekend vacation in the snow; and each person chose the price. The tourists were asked to pay an “honest” figure, and to fill out a questionnaire about the quality of the trip. The main objective of this “test” was to gain publicity for the hotels and restaurants in the area, to adapt prices according to the results of the experiment, and to use the gathered information to improve the vacation package.

The same strategy has been adopted by the hotel Ibis Singapore on Bencoolen, where for a limited time it was transformed into a pay-what-you-want structure. Customers paid anywhere from 70 Euro all the way down to 40 cents per room (the equivalent of about $100 and $0.60, respectively). Thousands of people logged onto the website and all of the rooms were booked within minutes on the first the day of the promotion.

The rising popularity of this new system has put the power into the hands of the customer. Today, every potential customer is empowered in a way that was never possible. Thanks to the internet, people can now find information about every product or service available. Furthermore, websites that allow people to comment on products and experiences help both future customers and the producers create better products and prices.

This rising phenomenon has found its way onto television as well, as seen in the following ABC News video clip. The Wrigley Mansion, in Phoenix, Arizona, has also started using the “pay what you want” strategy, and so far, it has proven very successful.

More Info:

• http://www.clientrevolution.com/2009/08/how-do-you-set-your-prices.html
• http://abcnews.go.com/video/playerIndex?id=8015840

Roger Harrop directs Speakers With Content, an American group that connects audiences with experts and specialists who provide practical information, solutions, and materials in an inspiring and insightful manner. Based on experiences and personal observations, Roger Harrop outlines the 10 key concepts of a successful entrepreneur.

As the Group Chief Executive of Servomex for seven years, Roger Harrop helped the company become the world leader in gas analysis. Now the President and Fellow of the Professional Speakers Association, Harrop is a keynote speaker for international corporations, business leaders groups, and associations. Here are his ten tips for our leaders:

1. Know what your weaknesses are, and always have a number 2, someone that can complement you and your weaknesses.
2. Know what your purpose is. What is it that you want to achieve? Knowing one’s purpose can help direct people in the right direction.
3. Belief is of upmost importance. If you don’t believe in yourself and your work, people will see right through you.
4. Passion is key. If you don’t have passion for your work, it will never be as good as it could be.
5. Demonstrate courage by taking risks in order to move the business forward.
6. Respect people. There aren’t any successful entrepreneurs who treat people badly.
7. Always have a Plan B. Never forget Murphy’s law: if a project takes a bad turn, be ready with another plan.
8. Keep it simple.
9. Work smart, not hard. Clever people know how to get the job done in the most efficient way possible.
10. Enjoy what you are doing, and above all, make the most of life.

You can hear all about Roger Harrop’s tips from the man himself in the following interview:

To read subtitles in your language, click , then scroll over .

More Info.:

• http://www.youtube.com/watch?v=qh7c_o9xI6s

This video explains a new trend of “try-vertising” in which consumers are able to try new products for free. It’s a win-win situation: buyers get to use the products for free before they hit store shelves, and companies gain valuable market research.

To read subtitles in your language, click , then scroll over .

In the last few years we have directly, or implicitly, experienced and assisted to the creative freedom of art directors, advertisers, and copywriters. In Japan and Korea, the presence of advanced technology and an innovative culture for excellence, has opened the doors for all sorts of experimentation, with the realization of interactive windows, holographic displays, or women window displays (dressed by automatic product distributors).

In the meantime, the exposition of the internet to its business models, it is not beyond contributing further to this scenario.

Contrastingly in the United States, the concept of “sampling” is back in style, or rather free product trials. But this time inaugurating a new era of advertising: “Try advertising”.

With the Alliant International University campus in San Diego, “Sample U” has arrived: a laboratory dedicated to the study of marketing consumer products. “Sample U” offers products that are virtually unavailable, available directly from the manufacturer, in exchange for some information about the identity of the user and their experience.

More Info.:

• http://www.alliant.edu/wps/wcm/connect/website
• http://www.campusexplorer.com/colleges/75652149/California/San-Diego/Alliant-International-University-San-Diego/
• http://www.sampleu.com/Welcome.html