Weird stealthy pricing strategy can boost your sales immediately

hey everybody welcome to profit copilot my name is Mike me and I’m going to give you a stealth pricing strategy in this article so there’s a very famous experiment done by the economist as you can see there are three pricing options so the first one is an online subscription and that is priced at $59 and that includes access to the website so the second one is a print only subscription and that is for one hundred and twenty five dollars and then the third option that they’ve got is both print and web subscription for a hundred and twenty five dollars which is the same price as the print option so what happened well an MIT study found some really interesting results when they run their own experiment so using this formula this format that I’ve just shown you they found that only 16% of people chose the online subscription nobody chose the print subscription that was 0%. But check this out 84% of people chose both online and print so that tells you that the final option the third the most expensive option is obviously the better value the most desirable option available. But what happened when the MIT study removed the middle option. Because nobody opted for that. So it was kind of a useless option right so they removed it to see what would happen this is really interesting after the middle option was removed 68% people took the first option which was the cheapest and 32% took the most expensive one the online and the print version so what does this tell us the the useless middle option that nobody wanted well that made the more expensive option look like a really good offer and therefore made it look more desirable so even though nobody wanted it it’s in context when we look at the bigger picture it helped people make up their mind more efficiently. Because they could seek they could clearly see which the which was the best deal on the table so maybe you could employ this strategy in your business maybe when it comes to pricing your next product you could throw this into the mix and see what happens thank you for your time today if you found this useful hit the thumbs up button below subscribe to the channel hit the little bell notification and you’ll get another article from me tomorrow and that’s going to help you to get a little bit more independence and freedom through online entrepreneurship so thank you for watching have a great day and I will see you there.

This entry was posted in Passive Income Ideas. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *