Having trouble pricing your products?

Try these 13 techniques.

1. Decoy Pricing

The premium costs only a bit more than the decoy, but provides much more value.

2. Location Pricing

3. Relative Pricing

Good position makes customers compare your product with more expensive products

4. Social Pricing

People tend to only speak about very expensive or very cheap stuff they bought

5. Magic of the Middle

Those who don't know the market, or who don't care, will usually choose the middle option

6. Bundle Pricing

Use bundling to sell more while reducing the price just a little

7. Breakdown Pricing

Break down the high price into smaller units

8. Price vs. Value

Is the price the main benefit? Emphasize it. If not, emphasize something else

9. Urgency-Based Pricing

Create scarcity by promising to raise prices

10. The Rule of 100

If the price is lower than 100, discount in %. If it's higher than 100, discount in sh

11. Premium vs. Low-Cost

12. Penetration Pricing

Introduce for free, set a little price as people buy, until you maximize their satisfaction and your profit.

13. Pricing Placebo