Testing Pricing, Products, Services
Business owners jumping into new services might struggle with how to price goods and services, but Gregory Ciotti tries to take down some roadblocks by offering up advice. He analyzed some recent research studies that examine pricing of products and services in the hope that folks might better understand how to price their own goods. Apparently, pricing something with a number 9 doesn't always work. He shows us the results of a number 9 pricing experiment compared with another ad showing the original price and discounted price conducted by MIT and the University of Chicago.