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ranges on the x-axis of the chart below, based upon that $150 answer, in such a
way that the $150 is in the middle of the overall price range of the x-axis.
The bar chart below shows how much his potential customers actually pay for
products similar to his. Let’s use this example to show you how to interpret
this chart...
Order now -> http://myps.sitesell.com/
Make Your Price Sell!
6 9
The y-axis, as usual, shows the percentage of respondents who chose each
answer. On the x-axis, “dollars usually spent” increase in dollar value
from left to right (the “<” means “less than” and the “>” means “greater than”).
In the example above, the respondents’ answers peaked at the $30-75 range.
Since “Mr. Example” had entered $150 as his prospects’ average purchase
amount, it’s clear that his prospects’ wallets and purses are not...
... as stuffed with money as he thought.
There are three possible distributions and interpretations (let’s ignore the
“Never bought” answer for the purpose of this discussion -- we’ll talk about that
in a minute)...
1) If the peak occurs near the center (i.e., evenly distributed around the price
entered by the marketer when the survey was created), it shows that you
understand your customer fairly well ( more on this below ) .
Order now -> http://myps.sitesell.com/
Make Your Price Sell!
7 0
2) If the peak occurs to the left of center, it means that your customers
are a lot more thrifty than you thought. The farther to the left, the more miserly
they are! Be sure your pricing model reflects this reality.
3) If the peak occurs to the right, good news! Like the previous two bar
charts, the more it shifts to the right, the better. This indicates that your