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Anecdote: A long time ago I was helping a friend with her hand-made candles stall at a craft fair. A particular thpe of candle wasn't selling - so we talked ab
by andyjohnson0 5mo ago
Anecdote:
A long time ago I was helping a friend with her hand-made candles stall at a craft fair. A particular thpe of candle wasn't selling - so we talked about it and she reduced the price of each candle. But they still weren't selling. So we talked about it some more, and she priced them at 3x the original price. They all sold.
- predkambrij 5mo agoYeah. If it's free or cheap, people don't value the thing. It's something called "price sensitivity". Some things are expensive (luxury brands), and people want it for that reason alone (status symbol).