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hard goods. Go beyond the obvious reduced “per unit shipping charge”... offer
“three for $20” (or better, $19.95) for that $7 bottle of wine. Sure, the margin is a
bit less... but your gross is much better. Your customer saves on shipping,
product cost, and gets that “under $20 psychological boost.” And your
competitor?... well, that’s two bottles of wine that he is not selling to your
customer!
Discounting can be used in a variety of other ways... for seasonal deals,
special markets like seniors and students, affiliate (or distributor if you are
offline) network.
Whether you use it to build existing customer loyalty, for quantity savings or for
competitive reasons, discounting can be a strong tool. Define the goal
clearly, though, before you discount. Otherwise, you’re just giving money away.
2.5.4. Perceived Value = “Reverse Discounting”
“Geez, it has to be good -- look how expensive it is!”
Quality is in the eye of the beholder. And a high price tag can certainly
help create a high perceived value. After all, is Mercedes really worth three
times a Ford? Is a Tiffany’s diamond really worth five times more than the same
one on the Net?
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Make Your Price Sell!
3 1
This can work if you are selling the snob appeal of a status symbol to the
wealthy, or a high-priced, big-name service to multi-national companies. But
don’t try this for most products on the Net, especially if you sell digital products
-- unless, of course, you enjoy...
... the feeling of your head being clamped in a vise. If
you simply set a high price for a new product with the hope of increasing Net
sales due to a high perceived value, you’re headed for pain. Big time.