How Do You Price Your Product?
Hello again
One thing we can all find difficult, especially if we're new to business, entering a new niche or launching a totally new product, is how to set the price.
Surprisingly, a low price can reduce sales, because it reduces theperceived value of the product.
So what a lot of people do when they start is to look around for roughly comparable products and set their price a little lower than the average their competitors are asking. What does this do?
It lowers the perceived value of the product to less than most ofthe alternatives. So how many people will choose the new product ahead of one of its rivals, which cost just a little more?
Very few, I'd say.
But when we launched The Complete Marketing Manual there were no direct competitors to compare it with. There were very few offering anything remotely similar. So what could we do to set a realistic price for The Complete Marketing Manual?
We tried to think what we might be prepared to pay. Bad idea. We asked other people what they might pay. Better, but not perfect, becaue they weren't actually going to buy it. All we could actuallydo was set a price and test it. Result: we need to raise the price,and soon.
So, while The Complete Marketing Manual is currently £47 or $97,depending which sales page you go to (that's about the same price, depending on exchange rates), it's going to be more than that in thenear future. Not immediately, because we're also testing something else, but soon.
So now you have advanced warning of the price rise, and the chance to buy it today, for £47 or $97, whichever suits you best.
Go to http://clicks.aweber.com/y/ct/?l=LqDY8&m=1ee5dfl0vQRg9P&b=RHTNeMW4RohELdARhcropw for the £47 offer, and to http://clicks.aweber.com/y/ct/?l=LqDY8&m=1ee5dfl0vQRg9P&b=OZfUuvhHkAYSJvIccdhWuw for the $97 one.
That's it for now, but remember the price will rise soon.
Roy Everitt, Writing For Results
The Complete Marketing Manual, from Cinamon Edge
One thing we can all find difficult, especially if we're new to business, entering a new niche or launching a totally new product, is how to set the price.
Surprisingly, a low price can reduce sales, because it reduces theperceived value of the product.
So what a lot of people do when they start is to look around for roughly comparable products and set their price a little lower than the average their competitors are asking. What does this do?
It lowers the perceived value of the product to less than most ofthe alternatives. So how many people will choose the new product ahead of one of its rivals, which cost just a little more?
Very few, I'd say.
But when we launched The Complete Marketing Manual there were no direct competitors to compare it with. There were very few offering anything remotely similar. So what could we do to set a realistic price for The Complete Marketing Manual?
We tried to think what we might be prepared to pay. Bad idea. We asked other people what they might pay. Better, but not perfect, becaue they weren't actually going to buy it. All we could actuallydo was set a price and test it. Result: we need to raise the price,and soon.
So, while The Complete Marketing Manual is currently £47 or $97,depending which sales page you go to (that's about the same price, depending on exchange rates), it's going to be more than that in thenear future. Not immediately, because we're also testing something else, but soon.
So now you have advanced warning of the price rise, and the chance to buy it today, for £47 or $97, whichever suits you best.
Go to http://clicks.aweber.com/y/ct/?l=LqDY8&m=1ee5dfl0vQRg9P&b=RHTNeMW4RohELdARhcropw for the £47 offer, and to http://clicks.aweber.com/y/ct/?l=LqDY8&m=1ee5dfl0vQRg9P&b=OZfUuvhHkAYSJvIccdhWuw for the $97 one.
That's it for now, but remember the price will rise soon.
Roy Everitt, Writing For Results
The Complete Marketing Manual, from Cinamon Edge
Labels: article marketing, direct mail, email marketing, internet marketing, Marketing Manual, marketing tips, The Complete Marketing Manual
posted by Roy Everitt at
18:50
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