Three Key Principles to Focus on Profit

  • Price your product or service in relation to the benefit it provides, not the cost of producing it.
  • Offer customers a limited range of prices.
  • Get paid more than once for the same thing.

Also, having a high-end version creates an “anchor price.” When we see a superhigh price, we tend to consider the lower price as much more reasonable … thus creating a fair bargain in our minds.

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