how to price your products without going bankrupt

right now, are you wearing the cheapest possible t-shirt you could buy?

what about the device you’re reading this on, is it the cheapest?

that time you had to get a minor procedure done, did you look for the cheapest doctor?

why not?

as much as people love to complain about the cost of products, they rarely buy on price alone.

people want to feel like they got a good deal, that’s it.

if I sell you a brand new iPhone for $100, your first reaction is to think there’s something wrong with it,
if I sell it to you for $3000 you’ll want to know what’s so special about it.

intrinsically we know we get what we pay for.

next time you want to lower your prices ask yourself “am I giving them a deal or am I making them question the quality of the product”

a very good book on pricing is “How to Sell at Margins Higher than Your Competitors“

I’ll see you tomorrow.

today is day 248 of the year, there are 117 days remaining of 2022.