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The Secret Of Successful High Price Tags

by Elion Makkink
3 replies
Recently, I was looking for an ebook about online poker since I started playing again (a lot, and pretty seriously).

I ended up downloading an ebook for free that had a price tag of $947,-. I read a few pages from it and it was actually pretty good.

But after I stopped reading, I asked myself, why did I just downloaded that ebook instead of those hundred alternatives I also found?

This is caused by perceived quality. I saw a lot of poker strategy books, but most of them were below $100,-. Or the price wasn't even mentioned. When I saw the title: "... outrageously expensive poker book" I was sold immediately.

The (perceived) quality of that ebook just went through the roof when I saw the original price tag of the ebook was $947,-

So when pricing a product, you don't need to be cheap in order to make sales or profit. Sometimes, a higher price can lead to higher rather than lower demand. This occurs when price is used to signal that the product is of high quality. Marketers often use a high price to signal exclusivity or prestige.

Will you be interested in buying a $997,- WSO? I bet you definitely want to know what's inside the WSO as your (perceived) quality also went through the roof!
#how to #howto #perceived #price #product #quality
  • Profile picture of the author ExRat
    Hi Elion,

    You appear to be mixing up -

    a) pricing something at a high price and selling it at that price

    b) attaching a high price tag to something that you give away for free

    They are two completely different strategies and appeal to two very different market sectors, therefore it's important not to mix them up together as if they were one and the same. Doing so is likely to achieve the opposite of what I assume you are trying to achieve here.
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    • Profile picture of the author Elion Makkink
      Originally Posted by ExRat View Post

      Hi Elion,

      You appear to be mixing up -

      a) pricing something at a high price and selling it at that price

      b) attaching a high price tag to something that you give away for free

      They are two completely different strategies and appeal to two very different market sectors, therefore it's important not to mix them up together as if they were one and the same. Doing so is likely to achieve the opposite of what I assume you are trying to achieve here.
      I'm sorry, I shouldn't have mentioned it getting it for free. That's not what I'm trying to say.

      But as you mention it now, it could be used both ways. Like in the warrior room. Warrior's releasing expensive courses for free there, and I bet many of us are curious enough to take a look at it when the original price tag was (quite) high.

      However, the main point I was trying to make here is pricing in combination with perceived value. Point a)!
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      Cheers,
      Elion Makkink

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  • Profile picture of the author celente
    yes one will do this as perceived value. Are you gunna download soemthing that is worth $37 or over $900 dollars.

    It is all about perceived value.
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