Is there a formula to come up with price?

jkiley · 06-28-2009, 12:18 AM

I have written this app, and I need somebody to take a look at the page and tell me about the content and the cocept of the application if it sounds good.

Compare prices for millions of items from thousands of stores.

This is a beta version of the application so it is free, I am also trying to come up with the price of the application. I am not sure if you guys have any forumula or such to come up with the price? What makes you say that you want to sell something for 49.95 and not 44.95? Is it just a gut feeling? What should be the price of this price watcher application?

Thanks

slvrsrfr · 06-28-2009, 12:50 AM

just had a quick look at it. i think it's a neat idea. and something i'd rather try and sell as a membership site. maybe $9 mth or something.

could work out quite well that way.

jkiley · 06-28-2009, 12:54 AM

Quote:

Originally Posted by slvrsrfr

just had a quick look at it. i think it's a neat idea. and something i'd rather try and sell as a membership site. maybe $9 mth or something.

could work out quite well that way.

Actually I am thinking of giving 90% (or so) in commissions with 29.95 as the price. I think that should create plenty of interest for lot of people to start pushing this product?

06-28-2009, 01:11 AM

There are Php scripts that do this same thing .. Maybe search hotscripts.com and see if you can compare prices you find on similar php scripts.

It may give you an idea where to start your pricing.

James

jhongren · 06-28-2009, 01:30 AM

Hi,

Wow 90% is alot of commission.

Remember you should build in more profit
by promoting a backend... =)

It can be a one year membership for a
certain price...

or

some other additional bonus which meets
the same needs of your buyers...

This should be able to help you
drive up your profits.

John

jkiley · 06-28-2009, 06:37 AM

Quote:

Originally Posted by jhongren

Hi,

Wow 90% is alot of commission.

Remember you should build in more profit
by promoting a backend... =)

It can be a one year membership for a
certain price...

or

some other additional bonus which meets
the same needs of your buyers...

This should be able to help you
drive up your profits.

John

Well, I plan to make money thru commission of selling those items, so I can give the entire application for free. The reason I want to put price so that I can get affiliates to push this to the consumers.

edman · 06-28-2009, 07:19 AM

Although 90% is appealing, it brings question about the true value of the product in the eyes of buyers if you plan to publicize the affiliate system

Putting a price on it is good idea though

One though... Will it be possible for you to allow your affiliates to give it free, and in return have them advertise inside as well also randomly share some commissions with you, say someone purchases a product, instead of you getting the commission they will.. and this can be at random, and maybe 1 out of say 5 sales etc...

Just a thought

Cheers and great job

jkiley · 06-28-2009, 07:29 AM

Quote:

Originally Posted by edman

Although 90% is appealing, it brings question about the true value of the product in the eyes of buyers if you plan to publicize the affiliate system

Putting a price on it is good idea though

One though... Will it be possible for you to allow your affiliates to give it free, and in return have them advertise inside as well also randomly share some commissions with you, say someone purchases a product, instead of you getting the commission they will.. and this can be at random, and maybe 1 out of say 5 sales etc...

Just a thought

Cheers and great job

Good idea. I didn't think about it before but maybe I can do something like that, where they can get the check for every random sale....or maybe "register to win" kind of thing.

edman · 06-28-2009, 07:32 AM

Right on...

This way it will be in everyone's best interest to work harder because it like their own business too

jkiley · 06-28-2009, 07:50 AM

Quote:

Originally Posted by edman

Right on...

This way it will be in everyone's best interest to work harder because it like their own business too

OK, then how do I find these people then? who can sell this for me?

aihamshujaa · 06-28-2009, 08:02 AM

Whether or not you choose to make your site a membership site, regarding prices I'm afraid that you are going to have to experiment to see which works best for your chosen niche.
You could go for a gut feel, but check to see if you have competitors in your chosen field. Then pretend like your ordering to see what price you are given. But don't go through with the order. This should give you a sample of prices to choose from. Then whatever price you go with, make sure is a whole amount and ends in 7. For example, instead of £29.95, use £27. People like dealing in whole numbers cos it avoids loose change and the number 7 is more pleasing to the eye. Hope this helps.

06-28-2009, 12:18 AM	#1
jkiley House of Finders War Room Member Join Date: May 2009 Posts: 565 Thanks: 8 Thanked 73 Times in 23 Posts Social Networking	Is there a formula to come up with price? I have written this app, and I need somebody to take a look at the page and tell me about the content and the cocept of the application if it sounds good. Compare prices for millions of items from thousands of stores. This is a beta version of the application so it is free, I am also trying to come up with the price of the application. I am not sure if you guys have any forumula or such to come up with the price? What makes you say that you want to sell something for 49.95 and not 44.95? Is it just a gut feeling? What should be the price of this price watcher application? Thanks
	A community of serious bargain hunters with one goal in mind: saving you money!

06-28-2009, 12:50 AM	#2
slvrsrfr Peaceful Jedi Warrior War Room Member Join Date: Jun 2009 Location: Canada Posts: 110 Thanks: 158 Thanked 33 Times in 19 Posts	Re: Is there a formula to come up with price? just had a quick look at it. i think it's a neat idea. and something i'd rather try and sell as a membership site. maybe $9 mth or something. could work out quite well that way.
	http://www.youtube.com/watch?v=xlfnm9gV52w “You can't stay in your corner of the Forest waiting for others to come to you. You have to go to them sometimes.” - Winnie the Pooh

06-28-2009, 01:11 AM	#4
TheRichJerksNet Guest Posts: n/a	Re: Is there a formula to come up with price? There are Php scripts that do this same thing .. Maybe search hotscripts.com and see if you can compare prices you find on similar php scripts. It may give you an idea where to start your pricing. James
TheRichJerksNet Guest Posts: n/a

06-28-2009, 01:30 AM	#5
jhongren JohnYeo.name War Room Member Join Date: Jul 2008 Location: Singapore Posts: 2,639 Blog Entries: 2 Thanks: 453 Thanked 237 Times in 123 Posts Social Networking Contact Info	Re: Is there a formula to come up with price? Hi, Wow 90% is alot of commission. Remember you should build in more profit by promoting a backend... =) It can be a one year membership for a certain price... or some other additional bonus which meets the same needs of your buyers... This should be able to help you drive up your profits. John
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06-28-2009, 07:19 AM	#7
edman HyperActive Warrior War Room Member Join Date: Jul 2004 Location: Scotland Posts: 417 Thanks: 60 Thanked 242 Times in 46 Posts Social Networking Contact Info	Re: Is there a formula to come up with price? Although 90% is appealing, it brings question about the true value of the product in the eyes of buyers if you plan to publicize the affiliate system Putting a price on it is good idea though One though... Will it be possible for you to allow your affiliates to give it free, and in return have them advertise inside as well also randomly share some commissions with you, say someone purchases a product, instead of you getting the commission they will.. and this can be at random, and maybe 1 out of say 5 sales etc... Just a thought Cheers and great job
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06-28-2009, 07:32 AM	#9
edman HyperActive Warrior War Room Member Join Date: Jul 2004 Location: Scotland Posts: 417 Thanks: 60 Thanked 242 Times in 46 Posts Social Networking Contact Info	Re: Is there a formula to come up with price? Right on... This way it will be in everyone's best interest to work harder because it like their own business too
	FBI - NEW Viral Wordpress & Facebook App Breaks Boundries: - The Easiest, Cheapest & Fastest Way To Get 5K NEW Real Likes & Emails CLICK HERE To SEE it in Action

06-28-2009, 08:02 AM	#11
aihamshujaa Warrior Member Join Date: Jun 2009 Location: Coulsdon, UK Posts: 27 Thanks: 0 Thanked 0 Times in 0 Posts	Re: Is there a formula to come up with price? Whether or not you choose to make your site a membership site, regarding prices I'm afraid that you are going to have to experiment to see which works best for your chosen niche. You could go for a gut feel, but check to see if you have competitors in your chosen field. Then pretend like your ordering to see what price you are given. But don't go through with the order. This should give you a sample of prices to choose from. Then whatever price you go with, make sure is a whole amount and ends in 7. For example, instead of £29.95, use £27. People like dealing in whole numbers cos it avoids loose change and the number 7 is more pleasing to the eye. Hope this helps.