Price Testing and the Entrepreneur Channel
Posted by jorbell on October 20, 2009
While skipping through some TV channels yesterday I put on the Entrprenneur Channel (Sky 682). At the moment I tuned in they were advertising a DVD product of a live event called Millionaire Marketing. One particular concept is worth repeating and that of price testing. You may think cheaper will get more sales but it aint necessarily so. People attach value to price and there was a fantastic, if extreme example, of how this works.
If you needed brain surgery would you go to someone who offered a $99 weekend special or the expert who charged $25,000?
Personally, I’d have more confidence in the latter!
Price testing is important because you may find that the higher your price the more sales you make. Take a look at the article How Price Testing Brings a Higher ROI to get a brief overview of how this can work
Back to the Entreprenneur Channel…
Now, a lot of the shows on this channel have been played in rotation for the best part of two years but there are still some interesting ideas you can pick up. One of the names to have advertised on this channel is Brian Tracy so it is worth tuning in even if you have no intention of buying anything.