In episode #737, Eric and Neil discuss whether cheaper is better. Tune in to hear if you are shooting yourself in the foot by charging less.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Is Cheaper Better?
- [01:00] Some people say you pay what you get for, but sometimes cheaper is better.
- [01:30] There is a diamond company that makes the stones in a lab. When they sell them for less, no one wants them. When they sell them for the same price as mined diamonds, they sell out.
- [02:00] The quality is the same, but the diamonds are made in simulated conditions.
- [02:28] If two advertising companies charge two different rates, most people will pay the higher rate for a smaller company and more focused attention.
- [03:05] People often question the quality of something if it’s too low of a price.
- [03:30] There is no exact science to setting a price point, so do your research and run tests.
- [04:20] That’s it for today!
- [04:24] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.
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