Pricing Feedback

[MTBLover30]

I want to know the thoughts of someone who is familiar and successful with business.

I have a product that I’m about to launch for $97. When I did testing the sales results were great. Once I began to double down on product design, I realized I can add more value at the base level. Therefore I raised the price to $197 but this $197 and increased value stack is untested. So here’s my question. Should I launch with the increased value stack at the original $97 and raise prices after it’s proven? Or launch at the $197 and be willing to drop price if sales lagg?

 

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[MJ DeMarco]

Hard to give product pricing advice when we have no idea what the product is.

Generally speaking, you can start with a $197 price and offer discounts, promotions, and coupons and adjust as you test.

 

[MTBLover30]

Hard to give product pricing advice when we have no idea what the product is.

Generally speaking, you can start with a $197 price and offer discounts, promotions, and coupons and adjust as you test.

Thanks for the feedback MJ. This product is a productized service product. Think of it as digitizing a service that people pay a high cost one time fee for a fraction of the cost with more value and less logistical constraints. Hope that helps.

 

[NeoDialectic]

I want to know the thoughts of someone who is familiar and successful with business.

I have a product that I’m about to launch for $97. When I did testing the sales results were great. Once I began to double down on product design, I realized I can add more value at the base level. Therefore I raised the price to $197 but this $197 and increased value stack is untested. So here’s my question. Should I launch with the increased value stack at the original $97 and raise prices after it’s proven? Or launch at the $197 and be willing to drop price if sales lagg?

Based on the very limited information you have provided, I would offer the $97 product and then when the $197 product is ready offer it as a second tier or upgrade. Don't delay going to market by spending time testing your next 300 better ideas. If something already worked, hit the gas pedal.

 

[MTBLover30]

Based on the very limited information you have provided, I would offer the $97 product and then when the $197 product is ready offer it as a second tier or upgrade. Don't delay going to market by spending time testing your next 300 better ideas. If something already worked, hit the gas pedal.

Hey thanks! I am currently building it as we speak. It's funny how tedious and boring the creating of it is compared to the dreaming. It all feels like its too simple to work but I can't wait