Fortunes have been made on all sorts of odd items by following that dictum, from tulips to domain names. There are numerous ways to look at pricing. Our focus in these next few columns will be how to use price to support your overall marketing strategy, to use price as a means of persuading your buyers to accept certain ideas, and to create the image you desire in their minds.
Price is all in the mind.
But if you were out of water in the desert, you'd start looking for your cash. Look at perfume. They both smell very nice. In short, they are willing to pay for benefits which are not even in the bottle of Chanel, but in people's minds. Oddly, the reverse can also be true.