Have you ever puzzled why all those merchandise on TV cost $19.95? Why used automobile dealers,excuse me, “pre owned” car sellers supply $199 a month?
It’s an often used and very profitable advertising concept. The idea is that round figures set off alarm bells in a buyers and by shaving a penny or two off the value we will keep away from these alarm bells. A person will wrinkle his forehead and marvel if that fancy kitchen gadget is worth $20, however he will likely be readily dialing the phone credit card in hand for the low price of $19.95. What a bargain.
Believe it or not sales figures seem to support this idea. Shave a few pennies off the round dollar amount and people are more likely to buy from a TV ad, however this doesn’t work in all forms of marketing.When buying in person people appear to prefer round numbers. For instance. I have a friend who sells knockoff tennis shoes at flea markets. Don’t laugh. He quit his regular job because he makes more in a weekend at the flea market than he did in a 40 hour week.
Anyway he discovered that the magic price for knockoff tennis shoes at a flea market is $20. Any more and buyers huff and go “I might as well go to the shoe store for these prices.” Any less and they question the quality of the shoes, Look them over again and again, then walk away without buying.
I won’t make a comment about peoples’ behavior. The object is to make sales, not judge your customers, right? The simple truth is for every product and service there is a magic cost that a customer will readily pay with virtually no promoting in your part.I will not even attempt to guess why, however for e books that value seems to be $7. You have most likely seen the rash of $7 dollar e books everywhere. On advertising web sites and blogs and all around the web. For some unknown reason $5 is just too low and 8 $ is just too high.
Does it really matter why? As marketers we don’t need to question why. We find what sells and stick with it until it doesn’t sell anymore. If the public will pay $7 without flinching who am I to question them? Maybe it’s because $5 is not a lot of money these days. So if it cost $5 it must not be any good or it would cost more. But then $10 is double digits. Hold on here $10, I could get two fast food lunches for that. Okay, I am guessing why, but the point is, $7 is the magic price for an e book. At least for now it is.
Looking to find the best deal on ebooks, then visit www.ebookstallonline.com to find the best advice on download ebooks for you.
What Should Be The Magic Cost Of Your E Book?
Have you ever puzzled why all those merchandise on TV cost $19.95? Why used automobile dealers,excuse me, “pre owned” car sellers supply $199 a month?
It’s an often used and very profitable advertising concept. The idea is that round figures set off alarm bells in a buyers and by shaving a penny or two off the value we will keep away from these alarm bells. A person will wrinkle his forehead and marvel if that fancy kitchen gadget is worth $20, however he will likely be readily dialing the phone credit card in hand for the low price of $19.95. What a bargain.
Believe it or not sales figures seem to support this idea. Shave a few pennies off the round dollar amount and people are more likely to buy from a TV ad, however this doesn’t work in all forms of marketing.When buying in person people appear to prefer round numbers. For instance. I have a friend who sells knockoff tennis shoes at flea markets. Don’t laugh. He quit his regular job because he makes more in a weekend at the flea market than he did in a 40 hour week.
Anyway he discovered that the magic price for knockoff tennis shoes at a flea market is $20. Any more and buyers huff and go “I might as well go to the shoe store for these prices.” Any less and they question the quality of the shoes, Look them over again and again, then walk away without buying.
I won’t make a comment about peoples’ behavior. The object is to make sales, not judge your customers, right? The simple truth is for every product and service there is a magic cost that a customer will readily pay with virtually no promoting in your part.I will not even attempt to guess why, however for e books that value seems to be $7. You have most likely seen the rash of $7 dollar e books everywhere. On advertising web sites and blogs and all around the web. For some unknown reason $5 is just too low and 8 $ is just too high.
Does it really matter why? As marketers we don’t need to question why. We find what sells and stick with it until it doesn’t sell anymore. If the public will pay $7 without flinching who am I to question them? Maybe it’s because $5 is not a lot of money these days. So if it cost $5 it must not be any good or it would cost more. But then $10 is double digits. Hold on here $10, I could get two fast food lunches for that. Okay, I am guessing why, but the point is, $7 is the magic price for an e book. At least for now it is.
Looking to find the best deal on ebooks, then visit www.ebookstallonline.com to find the best advice on download ebooks for you.
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