Why high quality with low price is a REALLY bad idea

[200]

So you deliver HIGH quality product/services.

Amazing - you nearly give it away for free or low price.
VERY bad idea...
Quality is indirectly inherited from the price also - so if it's cheap the quality must be low (the logic of the customer)

Not just me saying that - it's backed up by science...
https://www.tandfonline.com/doi/full/10.1080/10496491.2015.1088922
Do you agree or what is your experience?

 

[Gogol]

I agree, but I haven't practiced it much in recent times. Yeah, probably I should stop doing low price works totally. I already denied one of those before you opened this thread. Getting sick with their attitude and the lack of understanding how the timezones work.

 

[HustleTong]

I do. Applicable in every level of marketing.

 

[aman khattar]

Got some big clients when I increased my pricings,it's all about human psychology

Perfectly said.

 

[GeeLark AI]

So you deliver HIGH quality product/services.

Amazing - you nearly give it away for free or low price.
VERY bad idea...
Quality is indirectly inherited from the price also - so if it's cheap the quality must be low (the logic of the customer)

Not just me saying that - it's backed up by science...
https://www.tandfonline.com/doi/full/10.1080/10496491.2015.1088922
Do you agree or what is your experience?

totally agree, but sometimes the sellers are afraid that what is being sold will not sell due to price competition
that's why they lowered the price.

 

[200]

totally agree, but sometimes the sellers are afraid that what is being sold will not sell due to price competition
that's why they lowered the price.

Aka quality death spiral... He he

 

[Followlix]

People selling quality stuff for a low price because they're insecure about themselves or fear the competition are also making it worse for everyone else, making the clients think the actual professionals are "overpriced".

No, lady, I shouldn't lower my prices just because you've seen a guy with 130 years of experience in the field on Reddit or Fiverr doing it for $5.

Please, have some confidence in yourself, in the long run you'll make it much better for you and everyone else.

 

[JetBlack101]

Though I do agree with everyone here, I am about to put an * on this thread.

When I started on Fiverr I had my prices at what my services should be. What happened, no purchases, why? No reviews, no sales.
What did I do? I lowered my prices to compete with my competition. I still provided high-quality services. So, technically I was selling high-quality goods at low prices.

Once I got a following and lots of reviews I started raising my prices. I have my prices significantly higher and selling high-quality services. However, I did need to lower my prices not because I didn't have confidence in myself but that I was competing in a pool much bigger than just me. So, though I agree, I do think that price is more than just associated with products and confidence.