How to increase your prices = income by 71% within 10 minutes

[Marcel1986]

I´ve found a useful article while stumbling upon the web...
It´s about pricing psychology and giving you some inspiration and ideas how to describe your service and products...
Hope it´s helpful for some of you

http://socialtriggers.com/increase-prices/

 

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[healthstatus]

Certainly huge benefit in raising your prices. You get the same money with fewer clients which allows you to service the heck out of them. I was told by an "advisor" raise your prices until 60% of the people you sell to or try and sell to complain about the price, then you are pretty close to your optimum. It has worked very well for me.

 

[Marcel1986]

Nobody said it´s the right way for everybody.
But for some products def. worth thinking about !
The main benefit you could take from this article could be not to raise your price but to make your product so valuable that people are willing to pay a higher prize...
So even when you read between the lines you may find something useful

 

[P3HSB]

The Power of Perception
Let’s say you’re lying on a beach on a hot day. For the last hour you’ve been thinking about how much you want a nice cold bottle of your favorite beer. Your friend gets up to make a phone call and says,

“Hey, want a beer?”

The only place nearby where beer is sold is a run-down grocery store. How much money would you give your friend for the beer?

Remember how much you gave him and reread the question. This time around, replace “run-down grocery store” with “fancy hotel.” How much money would you give your friend now? Would it be more than before?

Most people say yes. During a research experiment, the behavior economist Richard Thaler discovered that the fancy resort’s median price was 71% higher than the run-down store’s price .

Amazing, right? You were willing to pay two drastically different prices for the same bottle of beer because your perception influenced your price limit.

Keeping this discovery in mind, the only logical way to raise your prices is by developing the perception of your product (or service). So keep reading to learn how to do it.

Hypothetical

What if the only place nearby where beer is sold is in fact a run-down grocery store. Wouldn't it be a lie if you replaced "run-down grocery store" with “fancy hotel”?

I am not a fan of deceptive ad copy. Recently I've been buying and selling on Craigslist and came across several ad copy where sellers put "In good condition". When meeting up with the seller, the item would turn out to be WAY worst than what was advertised.

BEWARE!

 

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[Writer]

very interesting thanks for sharing