Suppose there are four customers about to visit your website
and they will pay
£100
£120
£150
and £200
WHAT PRICE SHOULD YOU PUT ON YOUR SITE?
e.g. if you put £125 you’ll get the £150 and the £200 person (the £200 is thinking it’s an amazing bargain) while the £100 and the £120 people will walk away – maybe your price was too high?
I think I need to give you one more bit of information:
if your costs are £80 to provide your product/service, then what price should you put on your site, in order to maximise your profit?
and for those who found that easy, what if your costs are only £70, or if they are £90…?
answers here (but don’t cheat, have a go first…..)
