Pricing isn’t all logic. People also buy at one price and not at another for psychological reasons – many of which they don’t understand. Yet these psychology-based choices have been documented by pricing strategy experts in tests of hundreds of millions of consumers. Here’s how pricing psychology can work for you.
Dr. Jensen has also performed dozens of pricing strategy tests for her own business launches — 1 magazine (Sportswoman) and 2 paid-subscription newsletters (Ancillary Profits and Media Marketing), all 3 of which she later sold) — and a book company.
— Paul Swift Editor & Publisher Newsletter on Newsletters www.newsletterbiz.com
"I’m amazed at how Pricing Psychology Report has helped me. I have recently changed career paths and this book has given me some much needed insider information. "The principles and proven pricing strategies illustrated in your book are dead on the money. Your strategies are practical, relevant, and easy to apply to real-life settings. This is exactly the information I have been looking for."
"Pricing Psychology Report contains 10 chapters of value-packed advice. (You) can use it to look beneath the obvious factors in making pricing decisions to consider the psychological aspects of how much you charge for your products."
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You might believe that there is no such thing as pricing too low – from a consumer perspective. But you’d be wrong.
In 1992, I launched Ancillary Profits newsletter (sold to magazine publishers) at a price under $100. A few months later, I tested that price vs. one well over $100 — a 31% price increase.
What should have happened? A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. Thus I should have received 31% LESS orders. Instead, my orders went…