In today’s episode of The Veterinary Business Success Show, Brendan Howard holds a candid conversation with Roger Haston on ‘How People Choose and Perceive Quality of Veterinary Services in Relation to Prices’.
Roger Haston is an economic expert with over 20 years of experience in various fields, including the veterinary industry. He has previously served as the President at Point Source Consulting, Executive Director at Animal Assistance Foundation, Chief of Analytics at PetSmart Charities, and currently serves as the President at The Institute for Animals.
In this episode, Roger Haston discusses his thoughts on How People Choose and Perceive Quality of Veterinary Services in Relation to Prices, mostly based on the findings in his research paper Simulation of the effect of low-cost companion animal clinics on the market for veterinary services. Haston explains how the entrance of low-cost clinics in the veterinary field can actually boost the profits of other clinics offering services at a relatively higher rate.
[00:00] Introductory Ad
[02:26] The show starts with Roger Haston giving his thoughts on the fear effect of low-cost services in the market for the veterinary field
[03:50] What are the simulations you did and what were their results in the research?
[06:20] Roger Haston explains a third attribute influencing consumer behavior
[07:50] Brendon asks Haston if, through his simulation, found or assumed that average consumers are price insensitive
[12:36] Roger Haston explains how low-cost options mean high profits and higher price practices.