Your Name & Reputation

Your name and reputation will have surprising effects on what you can charge for your products. Example: Large discounts will generally INCREASE sales of known brands, but DECREASE sales of unknown brands. Source: The Tao of Pricing. #pricingpsychology #pricingstrategy #brands #entrepreneurs

Respected Brand Name

Fortunate is the marketer with a respected Brand Name. When customers cannot easily judge quality or effectiveness, this marketer can price higher than competitors. Consumer reviews once reduced the value of many brand names by serving as a trustworthy guide. Today, bad reviews matter; good ones appear no longer as trustworthy. Source: The Tao ofContinue reading “Respected Brand Name”