In reality, there are actually situations where pricing something too low can actually reduce sales, which sounds counterintuitive but makes a lot of sense when you consider how we evaluate price versus perceived value and quality.
I remember someone talking about a drink company that was on the edge of failure because they couldn’t sell their product when priced at $1. They rebranded and charged like 3x more and ended up blowing up. I wanna say it was Celsius?
Smart - Lower prices is probably what’s been keeping sales so low…
They should give the CEO a big compensation bump…
In reality, there are actually situations where pricing something too low can actually reduce sales, which sounds counterintuitive but makes a lot of sense when you consider how we evaluate price versus perceived value and quality.
This is most definitely not one of them.
I remember someone talking about a drink company that was on the edge of failure because they couldn’t sell their product when priced at $1. They rebranded and charged like 3x more and ended up blowing up. I wanna say it was Celsius?
Yes, a big bump and a few smaller kicks.