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Question about pricing a product???

by aceshigh888
5 replies
Someone was saying that they only focus on products that are really expensive. Like products costing over 500. I was thinking about maybe looking at that but I keep thinking that realistically you'd get more people to buy if you either did a monthly membership at a lower price or a one time offer, then followed by an upgrade or 2, and or a cheap monthly membership to perhaps a newsletter. Do you think the less expensive route is the better approach?
#pricing #product #question
  • Profile picture of the author David Raybould
    Generally, after seeing dozens of price
    tests in years as a copywriter, the one
    thing I can tell you about low prices is
    that they attract a more troublesome
    buyer.

    Other than that it's all about split testing.

    Sometimes high prices outpull low prices
    for the same product, sometimes vice
    versa. Only way to tell is test it yourself,
    because your market, and your approach
    to your market, makes you unique.

    Sorry to not give more definitive answers.

    -David
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  • Profile picture of the author aceshigh888
    I guess it would depend largely on the target market and product right?
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  • Profile picture of the author Slate Marketing
    It totally depends on what kind of product/service you are pricing, what it's real and perceived value is, and what your positioning & credibility is.
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    • Profile picture of the author Naeema Anum
      Originally Posted by Slate Marketing View Post

      It totally depends on what kind of product/service you are pricing, what it's real and perceived value is, and what your positioning & credibility is.
      Exsactly the value matters. If the Product is really that much good, people are willling to pay more. some time a low prized Product can be much more better than a high paid product.
      there are lot of customers who often choose the one time fee inspite of having the option of monthly payment.
      Low prized Product needs to be sold in large amount of quantity.
      But if it's a high prized Product only few sales will make a lot of money.
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  • Profile picture of the author IMnetrepreneur
    Why not offer FE at a good entry price
    then just upscale by offering OTO at a higher price..
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