What's in a price? How to price your products and services
summary
Shows a concrete method: run a Van Westendorp survey with four price questions, build CDFs (example implemented in eight lines of Ruby), read the indifference price, the optimal pricing point, and the range of acceptable prices (example range $50–$100). Watch for psychological thresholds like $0.99, define the pricing scale up front (avoids $10,000 outliers), segment audiences (individuals/agencies/enterprise), ask prices both up and down to remove anchoring bias.
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chapters (9)
- 0:00Introduction
- 1:04Outline
- 2:24What if
- 3:51Economics
- 9:05Models
- 12:11Process
- 16:34Anchoring
- 18:51Statistics
- 22:38Graphing
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