Pricing

I was reading this post and it got me thinking about how I should or could price the ties that I’m going to start selling.

I’ve thought a lot about this and I keep coming back to a price point of $25.  It will mean that the tie will cost a little bit more than an average tie and not too much more so that my target market will still be willing to buy them before they get to $30.

After reading the post from Seth, I think that doing something a little different could be better for me.  I think that the ties which are more popular could get a price of $26-27 and some of the less popular could be priced around $23-25.  I don’t know if this is going to stick, but I’d like to try it.  Figuring out which are most popular might take some time of just pricing them all at $25 and see how things go.  

Or, maybe I just make a guess and go from there.

This is a difficult one.  Difficult because I could do just the opposite and charge less for the more popular ties and more for the less popular. 

I’ve also thought about just having a random/lottery style purchasing system.  When a person decides to purchase a tie, then, after the credit card info is entered and the “accept” button is clicked on, the price of the tie comes up.  I would lay out the parameters beforehand and say that you can expect to pay somewhere between $19 to $27, but you won’t find out until after you pay.  

Any comments about that idea?  Good or bad?

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