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  #4  
Old May 7, 2002, 10:52 AM
Marcia Yudkin
 
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Default Re: High price or low?

> Hi Philip,

> If I were you, I would set a
> "high" price, but then also make
> sure that when people buy it, they feel that
> they are getting value. Add more products or
> extra service to what you offer to ensure
> that....

The "more" that people get is not necessarily more products or extra service. It can be an aura of exclusivity and credentials that convince the buyer that they are getting something better than what they get with lower-priced products and less qualified providers.

For instance, for years Jay Abraham ran ads touting himself as the world's highest-price marketing consultant. The cheapest product he sold was about $300. He made himself sound so wise, you wanted something from him, so you'd pay $300. In fact, the contents of this $300 book were no more valuable than a $13.00 book.

Exclusivity and credentials can get people to spend more.

Marcia Yudkin


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