I have noticed that almost every product I ever see in a store has an apparently reduced price. Another thing I've observed is that the original price was so high that I doubt it was ever sold for that much. I assume that most of the time the discount prices are the actual value of the product. It usually looks something like this:Jeans
Original Price: 34.99
You Pay: 29.99
CD
Suggested Retail Price: 14.99
Your Price:12.99
But retailers are overlooking one major asset; They fail to recognize the full potential of this technique, but instead make very small discounts on the price tags. If I were to run a business I think I might just take this idea a step further and to every item in the store do something like this:
Shades
Original Price: $8.99
Your Price $1.99
Bag of Chips
Suggested Price: $12.99
You Pay: $1.99
Couch
Original Price: $3999.99
Only $499.99
This would not only make customers feel like they were getting a great deal, it would also allow me to charge more money on the final price while still keeping it much lower than the original price.
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2 comments:
So, have you tried applying this brilliant principle?
This reminds me of when we bought our wedding rings from a lady that was a friend of Krista's. When we went to the jewelry store, she gave us 50% off, which we assumed was because she liked us because of our mutual acquaintance. We left thinking we'd gotten a steal on the set, only to find out later that we paid probably just over what it was really worth. Live and learn. It looks like that's what you're doing! :)
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