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Price Pointing - How do YOU fix your price?

by leonardpayne
2 replies
I'm having some thoughts about how to price my major new product
due in October.

I'm seen and read discussions about whether its ending with .95 or .99 but I'm more interest in the major levels.

For example I've seen everything ranging from the $7 model. Why wasn't it $7.50 (Whats the principle??)

So I've seen $15, $17, $19.95, $20, $27, $37 $47, $97 and thats where it generally stops for low end products.

Once we get into the $127 , $147, $295 etc etc, we expect far more for our money.

Over $500 and we tend to expect physical shipment with a hefty thud factor needed.

Over $1000, $2000 and something special is expected. What is it??

How can these figures be charged? Is it the value of the product? Or the position of the guru? You pay more for a particular person??

Anyway lets open this debate. I'm particularly needing imput for this major product - Cheers
#fix #pointing #price
  • Profile picture of the author Shaun OReilly
    Pricing is a very emotional subject so you'll find many
    irrational things happening - for sellers and buyers.

    The price charged (and received) depends upon a whole
    bunch of things such as the perceived value of the
    product and the positioning of the seller.

    An overlooked factor in pricing is down to the seller's
    perception and self-esteem too.

    How confident are you in yourself, your product, and
    the value you're delivering?

    Do some testing to find the best pricing point because
    it's an area that can't be figured out purely rationally.

    Dedicated to your success,

    Shaun
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  • Profile picture of the author Paul Hancox
    Hi Leonard

    I think the key thing at any price point is whether the prospect considers the price to be VALUE FOR MONEY.

    I've sold $7, $47, $597 and $7000 products in various mediums, and this is always the common factor... does the customer feel they're getting value for their money?

    Sure the price points can change. Let's face it, 10 years ago the idea of paying $10,000 to attend a seminar in the Internet Marketing niche was unheard of... and then Eben Pagan came along.

    Eben could charge $10,000 because he is a "guru" who obviously HAS achieved success, so naturally his attendees felt they would get lots of VALUE, which they no doubt considered would be worth many times more than their initial investment.

    Paul Hancox

    P.S: I wrote a report entitled "Pricing For Big Profits", covering this whole subject in 99 pages. You might find the WSO for it last year with search... I never actually closed it... along with what Paul Myers' had to say about it.
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