How Are People Valuating Their Products?
Sometimes I check out some marketer's sales copy and wonder how they arrive at the values for their up sell items. They may say "a $97 value free." How exactly are they arriving at that figure if that item has never actually sold for $97? Of course the value is exaggerated to sweeten the deal (nothing wrong with that). When I see those offers, that's what someone like me is thinking. If you've successfully sold a product to lots of people at one price, then its obvious that your valuation was correct.
Anyone who actually does business will tell you that the price of an item is largely predicated on what people will pay for it, not your own perceived value. Sometimes companies have to change the price of an item constantly until it begins to sell. In the trading markets, the market price of a security is based on how much the last buy/sell order was for. Its pretty much the same way in any other business.
So that's the queston: How do you some of you arrive at the figures in which you value products that you've never sold?
Anyone who actually does business will tell you that the price of an item is largely predicated on what people will pay for it, not your own perceived value. Sometimes companies have to change the price of an item constantly until it begins to sell. In the trading markets, the market price of a security is based on how much the last buy/sell order was for. Its pretty much the same way in any other business.
So that's the queston: How do you some of you arrive at the figures in which you value products that you've never sold?
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