Get a treasure
trove of programs anyone who does business on the Internet should
have today. All for one low price!
In a Rush?
Subscribe to the FREE Software
Tools Monthly Newsletter.
Resources, tips, site promotion, killer programs, how to guides
all e-mailed to you free. ($97 Value)
| PLUS
YOU GET THE FOLLOWING WHEN YOU SUBSCRIBE...
- Bonuses and more!
- Resellable Products Every Month!
- Tons of Discounts!
- EXCLUSIVE! FREE Password
Manager Program. |
|
|
Index
Previous Page (19) Next Page (21)
money, right?
Unfortunately, most business people tend to skew a penetration price too high,
trying to make more money. Likewise, top pricers tend to worry about scaring
too many people off and skew too low. As a result...
… they’re skewed. Sorry, couldn’t resist.
Don’t price in that in-between “No Man’s Land.” Decide whether you want to
price to penetrate or to get the top price. Then use MYPS! to find the best price
for that model.
Order now -> http://myps.sitesell.com/
Make Your Price Sell!
2 8
2.5. The Psychology of Pricing
You can, also, price to get inside the heads of your customer. Naturally, you
don’t decide whether to penetrate or top price on this basis alone. But once
you’re in the ball park, it helps to have a keen understanding of human nature.
Let’s start with the most well known example...
2.5.1. The Right Number
Some prices just sound like less money than other prices which are very close
to them in value. Take the price of 99 cents. It sounds a whole lot cheaper than
a dollar -- the same way that $9.99 does with $10. Humans buy on emotion
first, rational thought second. If they can say “and it’s under $50,” it’s one more
plus for you.
Point to take away? End your price in a 5, 7, 8, or 9 and be on the right
side of human nature.
Let’s also consider what Eric Mitchell, President of the Pricing Society
( http://www.pricing-advisor.com/ ), observes about the rules of rounding
off prices, based on his market research...
For Prices up to $10... It makes more sense to use $0.99 rather than $0.95.
Respondents’ reactions are the same for both numbers. So why leave 4 cents
|
