Upload & Sell: Off
| p.1 #1 · Does your highest package determine your ceiling? (Price anchoring) |
I'm currently reading a pricing book (Priceless: The Myth of Fair Value by William Poundstone), and in a chapter about price anchoring, he makes the argument "the more you ask for, the more you get". He reviews courtroom settlements between fast-food restaurants and patrons who were burned by hot coffee. In every case, the more the injured party asked for, the more they got. They didn't necessarily get what they asked, but the higher the request, the higher the settlement, even when the request was insane (hundreds of millions).
My pricing ranges from $3500 - 6500, and my average is in the $4-4.5 range. I'm beginning to think that I need to raise my top package to closer to $8 - $10k -- not necessarily because I expect to book it, but because I think it may raise my average price as a result.
I've seen a few people here make reference to it in the "guess your pricing" thread, and I'd love to hear thoughts (or even better, real world experience)