There is an amazing thing that takes place
in the world of medicine every day.
Like it or not, there are some serious
forces at work that have nothing to do with
the quality of the drug you take for your
illness.
…and this little trick is also IDEAL for
almost any business that needs to re-work
it’s pricing structure for more profit.
You see, what we are talking about is
the price of the drug alone has an impact
on how successful a patient feels.
This is not just true with prescription
drugs, but also with over-the-counter
medicine.
Studies have shown that the price the
patient pays for the bottle of pills
has a direct correlation to how good
they feel.
They simply feel better if they pay
a lot more, because they feel the quality
is higher and the drug is more useful.
This was done with an over the counter
cold medicine where one group of people
paid approximately 2 cents per pill
and the other group paid 50 cents per
pill.
The expensive group felt much better
and improved much quicker than the
cheap pill and both groups were taking
the same thing.
Crazy huh?
It’s called the placebo effect.
There are a lot of different forces at
work here, but in a nutshell, the power of
the mind can do amazing things, even when
reality is not as it seems.
So, armed with this information, think
of the ways that you could use this in
your business.
Develop a way that can use a higher price
to actually make your customers happier
about their decision.
If you want to get really serious about
your pricing strategy, check out the
Ultimate Pricing Report at:
http://www.product-pricing-strategy.com
Here, I pull back the curtain and reveal
all of the secrets that you need to know
in order to bring your business away from
the race to bankruptcy with deep discounting.
Until tomorrow,
Joshua Black
*******************************************
Copyright 2010, Outer Limit Productions LLC.
All rights reserved.
Download these other great products to help
your business earn huge piles of moolah:
http://www.product-pricing-strategy.com
http://www.how-to-business-network.com
http://www.ranking-higher-seo.com
http://www.UnderdogMillionaire.com/blog
http://www.sales-letter-system.com
http://www.closing-the-sale.com
http://www.information-product-report.com
http://www.UltimateUSPcreator.com
http://www.underdog-success-formula.com
_________________________________________
If you enjoyed this post, make sure you subscribe to my RSS feed!Related posts:
- The Ultimate Pricing Strategy from Pablo Picasso It’s Cinco de Mayo, so I thought I’d post about something Spanish on Ye Old Underdog Millionaire Tip Sheet. Yesterday...
- A Product Pricing Strategy Courtesy of Michael Jackson’s Glove Recently an auction just finished up for a whole heap of items from Michael Jackson’s estate. The prized item of...
- Gas is Cheaper than Water? How come we are more than happy to pay 5-15 times MORE for a bottle of water than we do...
- Tiny Price Strategy Tip Even a Total Newbie Can’t Screw Up If you are a seasoned small business veteran or you are just getting started, this quick tip will help you...
- A Pricing Test For My Customers On Friday I posted a huge sale for a very short period of time. Although that sale was quite REAL,...
