More sales and more profit.
Have only very low and very high price versions of the product or service. For instance, a book even by a known author as an ebook would cost under $5 (preferably $1), while the deluxe hardbound printed edition would be $30-$90 or more.
Presented with two price options, customers tend to (mostly) choose the lower price. Introducing a third price option that is higher than the two previous ones will make most customers choose the upper option of the first two. How do you know how to price these option for optimal success?
A calculator (app or online), where you input the price you want most customers to choose, and will get in return two other prices, a lower one, and a higher one. These, when used properly, will influence most customers to choose the price you want (middle one.) You’ll also get ideas how to package the different price options for maximum effect.
There are many situations and many ways to price. Which pricing is good for what situation?
A book that covers everything from why and when is a yes or no choice to a price is the best, to the sophisticated techniques of multiple pricing options for different segments of the market (up to the individual as a segment.) The book should cover amongst other subjects at least these: the psychology that make these work, the strategic decisions of pricing as a part of branding, the tactical solutions to different situations, publishing prices – when and how, when not to publish prices, take away marketing for higher prices, when is it good to compete on price (and when not to), price elasticity, price, and competition, how to use pricing as a motte, how to have the customer tell you the actual price they’re willing to pay.