Price in Terms of Value
"Price is what you
pay. Value is what you get." ~
The best price is the one that provides
you with the most
profits. When you
you have a sustainable advantage over most of
value and the overall exceptional experience associated with what you have
Price in terms of
value rather than cost.
People will always pay for something they love that
solves a problem.
Don't Price Too High or Too
"There is no
victory at bargain basement prices." ~
Dwight D. Eisenhower
If your price is too high, your sales will be
hurt. But this can also be true if you price your product too low, advises
People think it's probably "too good to be true" and get suspicious when the
price is far below their expectations. As a result, they don't feel
confident making a purchase.
Offer alternate products or services when you
show the price of a product or service. Choices allow the buyer to make
logical sense of the price.
Provide a lower and higher offer on each side
of your main offer.
Menu pricing is an effective approach.
Organize your offers on a menu with pricing lowest to highest, or vice
Don't be afraid to increase your prices or
fees If your price-point became unsustainable for a good reason. If
you create great,
value ‒ people will pay for that. Raise your prices moderately because any
large increase may be
as excessive. In case a moderate increase doesn't meet your sustainability
goals, think about splitting your product or service into different
Marketing To the
A higher price conveys a premium product
experience, causing a powerful
emotional mix of self-esteem, recognition and joy in consumers...
Free or No-fee?
You may wish to offer complimentary products,
services, and other benefits to your customer. Should you call them "free"
or "no-fee"? Call them "no-fee" wherever possible. Why? Free and no-fee
look, sound and feel different. "Free" suggests there may not be a great
deal of value. "No-fee" suggests that there is
but you are giving it as a gift.
Internet-powered Revenue Models
Freemium is a pricing strategy by which a product or
service (typically a digital offering such as
software, media, games or web services) is provided
free of charge, but money (premium) is charged for
advanced features, functionality, or virtual goods...
The Tao of
By: Marlen Jensen3
Eastern enlightenment to Western
Clever are discounts that commit a customer to
you for further sales.
Discounted razors, when you sell razor blades.
Discounted ink jet printers, when you sell ink
Know your customers. If a man known for his
cheapness buys from you... raise your prices immediately.
Even the "monetarily challenged" can enjoy
splurging or treating themselves to a relatively expensive candy bar,
shampoo, or after-shave...
The Tao of