Stop guessing. Use A/B testing to determine ideal price for your product
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Stop guessing. Use A/B testing to determine ideal price for your product
1–10 of 61 posts
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#2Good post, I think more people should be testing different values (I remember reading something where someone kept doubling the price til they reached the tipping point).
Cheers
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#3Good post, I think more people should be testing different values (I remember reading something where someone kept doubling the price til they reached the tipping point). Cheers
Yes, price testing is very important at initial stages of launch. It becomes progressively harder as your product gets established.
After your product is established, the only way to test price sensitivity is to launch pro version.
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#4Keep in mind that this is secondary to finding the market that puts the greatest value on your product.
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#5Why is it illegal to offer different prices for the same service (as this article says)?
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#6Why is it illegal to offer different prices for the same service (as this article says)?
Read this: "PRICE DISCRIMINATION AND THE LAW" http://www.imakenews.com/strategicpricing/e_article000649775...
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#7Keep in mind that this is secondary to finding the market that puts the greatest value on your product.
Interesting. Can you clarify a bit more? An example would really help. Thanks.
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#8Why is it illegal to offer different prices for the same service (as this article says)?
It is not illegal to offer different prices. Case in point - a lowly 12 oz of Budweiser. If I buy it in a keg it costs me around 50 cents (USD)each. In the bottle it would be closer to $1. At a local bar that has good beer prices and good food it is $3.00 for draft normally, except on Thursdays it is $2 (Bisonwitches, Tucson AZ). If I go to a fancy restaurant it will likely be $4 or even as high as $6.
In a free market you are free to charge what you want. Consumers are free not to purchase your item. Rules do vary around the world, so check with your local authorities. I am looking at this from a North American perspective.
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#9Good post, I think more people should be testing different values (I remember reading something where someone kept doubling the price til they reached the tipping point). Cheers
You're thinking about http://jacquesmattheij.com/Double+your+price+%28and+no%2C+I%... which was discussed in http://news.ycombinator.com/item?id=1639712.
Re: Stop guessing. Use A/B testing to determine ideal price for your product
#10Pro tip: Have at least three pricing levels with directly comparable features. It will increase the number of sales for the intermediary level.