Gas prices jump up and down…and all around.
When they’re up, you hear the grumbles everywhere, “Gas prices are outrageous!”
The prices go down…and everyone breathes a sigh of relief.
But prices are all relative.
When someone from Canada visits the US, they feel our prices are a good deal…even when they’re at their highest. And they’re exporting oil here.
Bring someone to the US from the UK…and gas is HALF price. It’s a huge discount sale!
If we all took a trip to Libya, we’d wonder if we stepped back into the 1970’s because the gas prices are so low.
It’s all in our perception of the price.
What are our expectations?
Where have our prices ‘anchors’ been set?
Let’s choose another subject.
Answer this question.
How much do a pair of jeans cost?
Your immediate response should have been what kind…and where are they available?
Otherwise there is no basis for the price…EXCEPT the ‘anchor’ of the last few times you purchased them.
Maybe they were at Target for $30 or the Gap for $50.
Or perhaps you were thinking of the pair at Neiman Marcus for $158.
Maybe you even thought of your Roberto Cavalli skinny jeans you got on sale for $495. Yes, I said sale price. I saw this online a few days ago.
It could have been you just needed some work jeans so you picked them up at Goodwill for $10.
Are the Roberto Cavalli’s overpriced? Not if they’re right for the customers who buy them.
It’s a mistake to believe every customer is just like you…and buys just like you.
Are you sabotaging your online business by carrying around some ‘heavy anchors’ about price?
You undervalue your work and what you offer.
You undervalue the change your product can make in someone’s life.
Don’t worry. I make the same mistake regularly.
We need to reprogram ourselves.
Pick up a Robb Report. Browse at Neiman Marcus and Saks Fifth Avenue.
Treat yourself to a high-end spa.
Often cheap is the most expensive.
If your only exposure to pricing is at Wal-mart, it will be very expensive for your business.
And If you’re serious about your internet success, check out the Monthly Mentor Club.
Do it before I realize what a pricing mistake I made for what is delivered in this Club…