Price vs Response?

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.