Price vs Response?

Does anybody know who did the study on price vs response? I can't remember where I saw it, or even the numbers they used.

It was something like..."there is no difference in response between $49 and $97". There were other number ranges mentioned.

This is what I get for packing up my office for a move that didn't happen.

[Ankesh]

Ted Nicholas did a lot of pricing tests. Not sure if thats the one you're looking for. He made the "end with 7" famous.

Gary Halbert - in one of his letters - talks about mental price barriers / ranges that people have.

Hi Bozo,

In the '70s there was a really clever consultant called Richard White that wrote a book called "The Entrepreneurs Manual". Chock-full of really good advice.

In it, he says the best way to find a price is to offer it to the customer and see if it sells. Put the product on the shelf between the others. Place ads, whatever, but test it for sale in the market place. Test higher and lower prices to see if it brings better returns.

Doing surveys and asking around will get you lots of opinions - from people that are not buying it - and are not your customers. So the value of such "research" is questionable.

I like some of what Glenn advises, but I do not for a moment believe that anyone can say "what they might be willing to pay in the future" with any sort of accuracy. You can get other info there, but when people reach for their wallet, the BS stops and the truth comes out.

How many times have you answered surveys or market researchers and given "nice to hear" information so they just go away fast?

A sort of "guru" marketer convinced me to take part in a survey this week. I did it, becaue he promised me something that looke attractive. I wanted to "earn" the freebie ... allways works ... lol ... So he was asking all sorts of leading questions and poorly phrased, confusing stuff, that I got pissed and just entered whatever to get it done with. I doubt I am the only one that got impatient. And those results in his survey are worth nothing. It is based on BS answers.

Earl Nightingale said "opinions are the cheapest commodities on earth" ...

Make people vote with their money. Then test up and down.

[Glenn]

Thanks Conrad,

Good point.

Gary Halbert taught us to...

A - Test prices.

B - Test the Headline and offer

C - Pre-test in person until your prospects start asking, "This sounds good.
How do I buy a copy?"

If You Want to have a slam dunk Giant Success when you - Roll out in
Direct Mail or Email - or Empty the room when you READ your sales
letter to an audience - as Halbert loved to do...

You Pre-test until folks start to spend Munny!

You can't Beat Voting with dollars - Starved Crowd Market Testing.

In my Ebay Info Sales Hobby
I Pre-Test By Sending Inner Circle VIP
Test Club Members...

New ideas in Executive Report form.

I create New Products around the ideas they LIKE BEST and send back
Testimonials and Success Stories about.

SINCE it takes gas munny and Energy and Time to TEST a New idea
IN Reality - I'm using a form of "Vote-with-the-wallet Testing.

Conrad - Thanks for reminding me I skipped an Important Step in
my previous post.

Thanks,
Glenn