Mika
VIP Contributor
Pricing is the most important factor for a business. If you don’t price your product correctly, your product will fail. The pricing strategy is not in any way related to the expensive price or cheap price it is more related to who your customers are and whether they will find the price attractive or not.
There is one classic example of how Steve Jobs priced iPad.
In an event where Apple was supposed to launch an iPad, Steve Jobs begins by saying “if you listen to the Pundits we are going to price is $1000 which is code for $999.”
Steve Jobs gives you a high price for the product as an anchor. Then he says, “iPad price does not start at $999 but at $499.”
The sudden drop in the price makes the product more appealing. While $499 is still an expensive price but it is half of the anchor price of $999.
You can copy this pricing strategy.
There is one classic example of how Steve Jobs priced iPad.
In an event where Apple was supposed to launch an iPad, Steve Jobs begins by saying “if you listen to the Pundits we are going to price is $1000 which is code for $999.”
Steve Jobs gives you a high price for the product as an anchor. Then he says, “iPad price does not start at $999 but at $499.”
The sudden drop in the price makes the product more appealing. While $499 is still an expensive price but it is half of the anchor price of $999.
You can copy this pricing strategy.
