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Lesson 16: Mastering Pricing Principles | Product Psychology

There’s a reason people on Craigslist are always overvaluing their crap: the right “price” cannot be perfectly deduced; it is highly dependent on context.

Legendary investor Warren Buffet once said, “Price is what you pay, value is what you get.” Since time immemorial, entrepreneurs and salesman have tried to figure out how to sell their value at the “optimal” price. Fact is, looking for for the “perfect” price which extracts maximum revenue from every single customer is like searching for the holy grail; this is an art, not a science. However, that doesn’t mean we can’t used time tested research and analysis to help us evaluate and reconsider our own prices. Here are a few must-read resources to get you started.

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Lesson 16: Mastering Pricing Principles.

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