Oh no you don't! I don't give advice. Advice has a way of coming back and biting me. All I am doing is giving a different point of view for anyone to consider. Americans have a way below average ability with math. Pretty much anyone under 35 has never used a pencil and paper, they use the calculator in their cell phone.
My POV is usually through the bottom of a crystal wine glass. Very much distorted.
You are welcome.
You are welcome.
There is a psychology about numbers. I worked retail and it fascinated me.
Lower the price and customers complain about the price going up, again. Eh? We lowered it, how can that be. customers do not remember what the price was, they only notice a difference. A difference is perceived to be an increase.
$19 is less than $21, but, $23 is not less than $26. Again, eh? Customers perceive a barrier at $20 so that below $20 is less and above is more. However, we discovered that "in the twenties" it did not matter what the price was.
People are a sucker for a sale. Customer would always buy whiskey A @ $20 a bottle. So, we would put whiskey B, which the customer did not even like, on sale from $25 down to $24. B would fly off the shelf.
"Its on sale! YEAH! I'm saying!" Um, er, ah, no yer not, yer paying $4 more. How is paying $24 for something you do not want, better than paying $20 for what ya do want?
I am not convinced that price is that big of a motivator for people. Buyers are looking for something more in every listing. Price pointing, number psychology, value added listings, pictures, descriptions, etc.
Take a look at how eBay defines a "great" listing. I have never seen low or lowest price mentioned. I see "great" pictures, "great" description, worldwide shipping, etc.
Lower the price and customers complain about the price going up, again. Eh? We lowered it, how can that be. customers do not remember what the price was, they only notice a difference. A difference is perceived to be an increase.
$19 is less than $21, but, $23 is not less than $26. Again, eh? Customers perceive a barrier at $20 so that below $20 is less and above is more. However, we discovered that "in the twenties" it did not matter what the price was.
People are a sucker for a sale. Customer would always buy whiskey A @ $20 a bottle. So, we would put whiskey B, which the customer did not even like, on sale from $25 down to $24. B would fly off the shelf.
"Its on sale! YEAH! I'm saying!" Um, er, ah, no yer not, yer paying $4 more. How is paying $24 for something you do not want, better than paying $20 for what ya do want?
I am not convinced that price is that big of a motivator for people. Buyers are looking for something more in every listing. Price pointing, number psychology, value added listings, pictures, descriptions, etc.
Take a look at how eBay defines a "great" listing. I have never seen low or lowest price mentioned. I see "great" pictures, "great" description, worldwide shipping, etc.
