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 (87) Next Page (89)
guess and plug any number you like to make the spreadsheet look good. We
call it...
... Price ‘N Pray. It’s one of the major reasons why new product
introductions fail.
Let’s say that you have a product that is destined to die -- there’s just no way to
match benefits to a profitable price (you don’t know this yet, of course). Which of
these scenarios would you prefer?...
SCENARIO 1 -- you price ‘n pray and launch the product. You’ve convinced
yourself it’s a winner. But your customer doesn’t know that! They vote with their
wallets. Twelve months later, you’ve lost a million dollars and a year’s worth of
opportunity cost.
Order now -> http://myps.sitesell.com/
Make Your Price Sell!
9 7
SCENARIO 2 -- before you launch, you run a MYPS! survey on this product.
Remember that Price-Profit curve ? Well, the graph does not have a
profitable point on it. It’s clear that this product is deader than a doornail. You
either modify it or you drop it.
If the price analysis is way off, drop it. If it’s close, consider adding an extra
feature that delivers a strong benefit. Or can you add a “free bonus” that adds to
the perceived value without adding much to the cost? Rather than completely
developing this improved offering, perhaps you could just price it using the
trial balloon technique (next) .
Cost analysis of aborting launch -- you save $1,000,000 (in inventory,
marketing, overhead, etc.) and a very stressful year. Not so disappointing after
all. So don’t...
... stick your head in the sand. If your product fails the
MYPS! test, either improve it or drop it. This goes double if you are a small
company -- you can’t afford a major flop.
|
