So you think it's unreasonable to charge higher prices?
So I put this very belief to test with one of my niches and I was baffled with the results. Surprisingly enough...People were buying even at a price which was unreasonably high in comparison to prevailing market prices of similar products.
Here is what I learned from this experiment -
- Your customers aren't sure about what they should or should not want. So don't assume they won't buy something just because you charge more.
- Customers will judge the value of a product based on how you market it them. So in short - You have to get your marketing right.
- If something inside you feels that you are taking advantage of someone by charging more then it's your own internal block. You are standing in your own way. And this very belief will keep you from growing financially.
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Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.