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> For example, raise the price of a product and fewer people will buy it. Lower the price and more people will buy it. Economics 101. There are of course excep
by ehnto 6y ago
> For example, raise the price of a product and fewer people will buy it. Lower the price and more people will buy it. Economics 101.
There are of course exceptions, and knowing your demographic is important. I worked for a company that released a skincare product at an affordable price point, and no-one bought it. They raised the price, and people started buying. It was because they were in a premium product niche, so being affordable made the product look bad in comparison to other products on the shelf, and people looking to buy that product used price to qualify the products quality.
- qznc 6y ago> 50. The Map Is Not the Territory: Reality will never match the elegance of theory. All models have inconsistencies, but some are still useful. Some maps are useful because they’re inaccurate. If you want to find an edge, look for what the map leaves out. This applies to all these 51 points.