Reply To: Setting Pricing
Scott, I heard a story told by Napoleon Hill – I think it was him – about a jewelry store.
The merchandise wasn’t moving.
So the owner wrote a note to the employee to say that the prices should be halved.
Something was lost in the translation, and instead of selling them for half-price, they were all doubled.
Every single item sold out that day.
Entrepreneurs who are just starting are often afraid that no one will buy their products if their prices are too high; and while that’s true, it’s also true of anyone.
What tends to happen is that they undervalue themselves and don’t charge enough.
Something to think about.
Bruce Hoag PhD
The Internet Marketing Psychologist
The Mindful Writer - for deep and persuasive copy