We don’t decide in Ranges.
We decide in Units.
Our decision is made based on what Unit it’s in.
No matter where in the Range the price is.
Because of costs, we had to charge $34 for Jodhpurs.
So we charged $39 because it’s in the $30 Unit.
Again, because people decide in Units, not inside the Range that represents the Unit,
it makes no difference. It’s still just a Unit decision.
It was ‘only’ 0.003% additional profit …but of almost $4,000,000,000 sales.
A net $12,000,000 !
Extra.
Because people decide in Units.
OK, so?
Apply this thinking to Garage Sales, your art sales, Office Lottery, etc.
You can charge a LOT more than you think, most of the time.
And still get the same results.
And more money.
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To reinforce this, read any 2 below:
# 225 Money – 337 Sell /Buy – 366 Money Madness
Good one. I tumbled to this while ago, and treat $39.99 as $40 in deciding whether or not I wish to make a purchase.
Best,
Doug
This is REALLY helpful, George!
Considering this information is moving me towards making a decision about pricing an item I have been procrastinating about for ages…
Thank you! Marian in the UK.