The Pricing Sprint: Why Human Behavior Still Wins In the Age of AI with Jenny Millar & Ann Padley

Jenny Millar is the CEO and Founder of Untapped Pricing, and Ann Padley is a Senior Strategy Consultant at Untapped Pricing. Together, they are the co-authors of The Pricing Sprint, a practical framework that helps organizations make better pricing decisions through customer insight, behavioral science, and cross-functional alignment. In this episode, Jenny and Ann explore why pricing is ultimately a human problem—even as AI becomes more capable of analyzing data, running scenarios, and optimizing decisions.  If you're responsible for pricing, product strategy, or commercial growth, this episode will change how you think about behavioral pricing, customer decision-making, and why human behavior still wins in the age of AI.   Why you have to check out today's podcast: Learn why pricing problems are often people problems—not pricing problems. Discover how small changes in pricing presentation, packaging, and choice can increase willingness to pay. Understand why AI can improve pricing decisions, but human judgment still drives great pricing.   "Most pricing problems aren't pricing problems. They're human behavior problems." — Jenny Millar   Topics Covered: 01:20 – Why Great Pricing Starts With Human Behavior, Not Spreadsheets. How human-centered design helps companies create pricing that customers actually understand and respond to. 03:59 – Are Buyers Irrational? The Debate Every Pricing Team Needs to Hear. Why customer decisions aren't always driven by logic—and how pricing teams can use that reality to their advantage. 10:19 – The Hidden Link Between Behavioral Economics and Willingness to Pay. How customer perceptions, context, and price presentation influence what buyers are actually willing to spend. 12:15 – The Pricing Sprint: A Faster Way to Improve Pricing Decisions. Jenny and Ann break down their practical framework for testing, validating, and implementing pricing changes with confidence. 16:19 – Why Companies Consistently Misjudge Customer Value. The internal biases and assumptions that cause businesses to leave money on the table—and how to uncover what customers truly value. 21:50 – Who Should Own Pricing? Solving One of Business's Toughest Questions. Why pricing often falls between departments and what successful companies do differently to create alignment. 26:51 – Can AI Improve Pricing Without Replacing Human Judgment? Where AI can help pricing teams move faster—and where human insight remains irreplaceable. 28:11 – Why the Way You Present a Price Can Matter More Than the Price Itself. Real examples of how small changes in pricing presentation can drive revenue growth without changing the underlying price.   Key Takeaways: "When behavioral pricing is done right, it actually leads to higher customer satisfaction and better customer experience." – Ann Padley  "Most pricing problems aren't pricing problems—they're human behavior problems." – Jenny Millar  "Loss aversion, status quo bias, and misaligned incentives are all shaping pricing decisions inside a company." – Jenny Millar  "Every dollar that flows into an organization is the result of a pricing decision." – Jenny Millar    Resources Mentioned: The Pricing Sprint - The new book by Jenny Millar and Ann Padley that outlines a human-centered approach to pricing, combining behavioral science, customer research, experimentation, and cross-functional decision-making. Dan Ariely - Behavioral economist and author of Predictably Irrational. Referenced during the discussion about whether buyers are truly rational in their decision-making. Steven Forth - Founder of Ibbaka and longtime pricing thought leader. Mentioned during the discussion about the possibility of AI agents eventually becoming buyers and negotiating on behalf of humans. eBay — Jenny's former employer, where she spent 10 years in pricing analytics and pricing strategy roles, helping shape pricing for a multi-billion-dollar business. University of Bristol Centre for Innovation and Entrepreneurship - Referenced as part of Ann's background in human-centered design, innovation, and behavioral science. Behavioral Economics - Referenced throughout the episode as the study of how psychological factors influence decision-making, willingness to pay, and pricing perceptions. Human-Centered Design - A core principle behind the Pricing Sprint methodology, focused on understanding customer needs, behaviors, and decision-making processes before making pricing changes.   Connect with Jenny Millar & Ann Padley: Website: https://www.untappedpricing.co.uk/ LinkedIn: https://www.linkedin.com/in/jennymillar/ LinkedIn: https://www.linkedin.com/in/annpadley/ Book: The Pricing Sprint: https://www.amazon.com/Pricing-Sprint-Steps-Unlock-Power-ebook/dp/B0GN8CTTW4   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]