How do major retailers and car companies use discounting, and what can artists learn from them?

Major brands run sales constantly because they understand human psychology and strategic pricing. Take Lexus’s ‘December to Remember’ campaign—customers feel they’re getting a special deal, but in reality, they’re getting the same price available through negotiation year-round. The brand creates urgency and a buying frenzy by framing it as a limited-time event. Behind the scenes, the sales teams are celebrating because the strategy works every time. Artists should learn from this: price your work appropriately high, then run strategic sales during peak buying periods. Customers will feel they’re winning with a special deal, you’ll hit your profit targets, and everyone’s happy. It’s not deceptive—it’s smart business.

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Asked by general business education · Answered by Nick · art-marketing-podcast · 2020-09-03