Why do IMer products follow the same pricing brackets?

Jack Torrance

Jack Torrance

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I notice $27.00 is a very common price used by internet marketers selling their products. Why is this? There seem to be other "standard" pricing bands but I can't think of them right now.

Also there are a lot of round figures. Why do people use 27.00 instead of 26.99?
 
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Because things ending in a 9 are "normal" now so things ending with a 7 LOOK cheaper. Walmart has a lot of things ending in 88 for this same reason.
 
it's a physiological thing- they did research back in the day and found out that $27 sells better than $25, go figure
 
To reference your first question:

You have to think about the target market here on BHW.

For the most part, with exception of course, people are here to learn how to make money online. They usually don't currently have money, hence the reason for being here. A lot of people here can't or won't pay anything more than $50 or $100 for services and/or products. That's why you see a lot of $7, $27, $47, $67, $97 price tags.

People here just either don't have the money, or won't spend anything more than that.

The result is a marketplace that caters to what the target demographic can pay.

I think Tommy at one time had a great thread talking about this a month or two ago.
 
9 was always the standard. So they decided to reduce it to 8. But why stop at 8? They were on a roll and they took it all the way down to 7.
 
They sell their crap at $27 because its that, crap. (I know what you asked though). Also if they were to build and promote high quality products they could sell them at a higher cost with higher roi.
 
It's a psychological trigger to end in seven. I read an article on it once, but can't remember the details. It works though, just look at warrior forum.
 
Pretty much a few folks did a study to see what price point people would be more likely to buy products at, and now everyone follows the same basic principles. Basically more people would buy that product if it's priced at $27 than they would if it was priced at $25. The way humans think and behave sometimes doesn't follow a logical method!
 
7 is kind of positive number. Some people find it lucky too. So, the chance of investing 27 or 37 or 47 bucks are pretty more that 25 or 35 or 45 bucks.
 
UptonGoodwin said:
Pretty much a few folks did a study to see what price point people would be more likely to buy products at, and now everyone follows the same basic principles. Basically more people would buy that product if it's priced at $27 than they would if it was priced at $25. The way humans think and behave sometimes doesn't follow a logical method!
Click to expand...

Wow, great stuff, good knowledge ITT. Looks like my product is ready for a price mark up!

I remember when I used to watch Derek Halpern he used to discuss really interesting paychological marketing tactics all the time. Really good stuff. I'll probably watch his videos again soon.
 
Let me link to you a tutorial from Khanacademy, it is called "perfect competition" (no barrier to entry, nothing very special with one single person, easily copiable mostly) in economics, here is the tutorial : https://www.khanacademy.org/economi...pic/perfect-competition/v/perfect-competition

it converges to a single price, it is (common price) affected by factors other than not mentioned in the graph which u will see in the tutorial. Like wages, cost of production, fixed cost and like that.
 
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