What’s your product worth? It’s a simple question but, from the perspective of consumer psychology, quite a complex one to answer. Of course there is the issue of the price. But it’s very hard to know if you have it priced right isn’t it. If you change your price you need to leave it at that price long enough for people to get over the comparison you’ve encouraged them to make by pricing it at different price, before you can get an accurate read on whether you sell more at that new price (if you see what I mean). And who’s to say if, when you change the price, some other change has occurred in the environment that renders a change in how your new price is perceived? A currency change or a competitor’s new product might mean your price is perceived very differently. On the internet clever people can probably design your site in such […]

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