4 ms·
Never underestimate the power of perceived value. Years ago I advertised a "Wholesalers Secrets" handbook on Google to help people find discounted wholesale go
by aresant 17y ago
Never underestimate the power of perceived value.
Years ago I advertised a "Wholesalers Secrets" handbook on Google to help people find discounted wholesale goods to sell on EBAY.
When priced at $9.95 I sold an average of 10 copies a day against ~$50 ad spend.
When I upped the price to $99.95 I sold an average of 5 copies a day against ~$50 ad spend.
That was a big lesson, imagine my surprise when I discovered that there’s a whole science behind this ->
http://en.wikipedia.org/wiki/Price_elasticity_of_demand http://en.wikipedia.org/wiki/Price_elasticity_of_demand
- maukdaddy 17y agoAnd HN says that MBA's aren't valuable ;)
- teej 17y agoIt may have taken an MBA or an Econ major to write that article, but luckily it doesn't take one to benefit from the knowledge it provides.
- jhancock 17y agoNot only was an MBA not a requirement for writing the article, the knowledge has been around for ages. My grandfather taught the principle to me. He was born in 1889 and his "formal" education ended at age 11.