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Pricing Correctly

Hi, is there a general rule to price products or services correctly? 

Do lower prices sell more? 

  • GoBizGo Team replied

    There are many pricing techniques that you can use depending on your products or customers. The key is to always price your products/services based on your target audience. Find some examples here:

    EVEN Indicates quality in the mind of the consumer. It decreases the chances of the consumer negotiating the price ($2, $4, $8, etc.) /
    ODD The consumer perceives an offer, a special price ($9.99, $19.95) / PSYCHOLOGICAL Many products sell better at $19, than at $18, or $20. At $79, better than at $75, $76, $78, etc. /
    BUNDLED 3 for $10, sells more than $3.33 each. 4 for $5, sells more than $1.25 each. /
    PREMIUM Many consumers prefer to pay high prices for certain products. For example, perfume, watches, etc. The image must be in congruence with the price.