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The term “Anchoring Bias” refers to a phenomenon that behavioral economists have long studied. We tend to place too much attention on the first piece of information we see. This is due to a powerful, yet subtle cognitive bias known as anchoring bias. It’s possible that information isn’t even relevant to the subject at hand.…

We are incredibly excited to announce that Veritec Solutions will soon be granted a U.S. patent to our Dynamic Differentiated Value Pricing system. This is otherwise known as self-storage “Good, Better, Best Pricing”. In particular, the patent will apply to the Value Pricing module of our flagship product, VRMS. What is Good, Better, Best Pricing?…

At many smaller and even medium-sized self-storage companies, the Store Manager (sometimes referred to as the Property Manager) often has de facto responsibility for setting the prices at which units are rented. This Store Manager is a multi-talented individual whose responsibilities include sales, customer service, and property management, all rolled into one. Pricing is another obligation…