Psycho Pricing - Get Articles by Bob Pladek |  |
> Get Articles > Pricing and Supply and Demand > Psycho Pricing Psycho Pricing Download as PDFBob Pladek outbrokercomcast.net Insincerious Business http://mydeas.com So it happens. I start on one subject, and end up writing about something entirely different. Then I have the nerve to ask my publishers to pay me for it. What a guy. ...how much would you pay to receive this precious information that is of immeasurable value to you particularly if you really did achieve your financial DREAM because of it? I have the manual and I will immediately send it to you, and you can have it in just a few minutes! How much would you be willing to pay for it? $10,000.00? $5,000.00? $1,000.00? or maybe $500.00? Only $19.95 $19.95: is there a price so etched in our collective consciousness as this one? I decided to go on a $19.95 hunt -- looking for the rationale behind the ubiquitous number. So I started, as I so often do, with a google search of: "psychology of $19.95 Not bad. Got myself 4,990 hits. The first 30 all had to do with prices for various psychology books. $19.95. Actually, even the British ones were 19.95 lbs sterling. Any normal person would have stopped there, since in a real way my point was proved: if these guys use it, guess everyone should. But I'm stubborn, and this article isn't long enough yet. So I tried to narrow it down with: "psychology of $19.95" Result? Your search - "psychology of $19.95" - did not match any documents. Nor did "magic of $19.95"; "power of $19.95"; or "why price at $19.95." I got lots of hits for "psychology of pricing"... all kinds of technical treatises. None for ["psychology of pricing"+$19.95]. The closest I got to anything having to do with what I was looking for was this little unscientific gem: The Psychology of Pricing Setting the right price is also a matter of psychology. There are several well established "rules" that pricing should follow to be successful as follows: a) End your price with a 5, 7, 8 or 9. NEVER end in a 0 or 1. Doesn't $19.99 sound better than $20? Isn't 99 cents much cheaper than a $1? http://www.getpub.com/internet-book-publishing-pricing.htm Notice, it works for 29.95, 39.95... every .95. At least online, where you're not paying sales tax or use tax (bad boy!) you really are coming in under the next dollar figure. But it leaves me wondering this: has the product been priced to this "rule" of psychology? Or is it really worth THAT much? And if it is WORTH that much, does that mean that 90% of all products sold online or on television are manufactured to be WORTH exactly $19.95? THAT would be the SCARIEST concept. Oh, to follow up on the above cite/site, get this: "Whilst I was researching this article I came across a unique product that takes all the mystical properties of pricing away. It is called "Make Your Price Sell" and I am now using it to price all of my books and services. It has saved me hours of effort. I recommend you take a look at it. Click here to find out more." I LOVE the "oh, by the way, hum dee dum" approach. But I clicked anyway. The product helps you set your price for stuff, and gloriosky, isn't sold ITSELF at a SET price, but an ever changing one (in dollars) based on what they claim are currency exchange rates. One thing is clear: I'll betcha it never gets to an even number. The cool thing about the psychology employed here, by the way, is that golly gee... the longer I looked at it, the higher it went, except for occasional dips. Now what effect do you think they were trying to achieve with this? I feel so USED. The fact [don't ask me where I got fact] is that $19.95 is the price most widely used because... because... it is the price most widely used. It has become a price standard unto itself. Not that it's LESS than $20.00, or MORE than $19.00. OTHER merchandise, MOST merchandise of the rather cheap/tawdry type is measured against the $19.95 standard. "Gee," Fred said, furrowing his furry brow, "$22.50. That's MORE than $19.95... think I'll PASS on that cancer cure." Keep looking, Fred. One more thing. Postscript, if you will; read this: FREE Manual of Powerful Wealth Secrets !!! This offer is magnificent, and completely legitimate, proven techniques and powerful marketing concepts. You can open your own profitable business without a major capitol investment! The first line ("This offer…") is not a sentence. And they're not trying to be funny. Like me. The second sentence presupposes you intended to build a veranda'd, domed legislative palace to support your efforts, before you took their advice. GOOD THING THEY CAME ALONG!!! I know I'm being picky. Please, though, if you're gonna tell us how great you are, try to at least show how smart you are. Or is THAT the psychology going on here... ? How useful did you find this article? 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