I was foolish. I thought that I would be the “only one who will be clever enough to shop at midnight…”
As we all know, lines were crazy for those of us who braved the retail challenge. Personally, I hate long lines, which is why you will never find me at theme parks during peak seasons. In any event, I entered the mall with a game plan.
I will visit only one store and make the best of it.
In order to maximize my shopping experience, I had to choose carefully. Window shopping can be an interesting experience. Big discounting numbers were not all that I looked at, but it sure did influence my decision.
However, one interesting thing that I learned from this experience was the unique way the numbers were presented by certain stores.
And no…not +1 RSVP…
I decided to take a peak in Calvin Klein because I wanted a new wallet. While I sifted through the ties and sports coats, I saw an interesting discount.
This was definitely one of those scratch-your-head-WTF-moments…
BUT, I remember seeing something like this before…
About a few months ago, I took a guided tour through Hollywood. For those who don’t live in Southern California, our dry weather make the hillside perfect kindle for brushfires. Therefore, smoking and campfire penal codes were posted everywhere.
At first, I found it quite peculiar. And for it to appear again gave me another one of those “ah hah” moments.
So, what are your thoughts on this? There are two main reasons. One is more obvious than the other, but both are equally powerful if applied correctly.
- It’s more than 40%! Conversely, it is just as how we perceive 99 cents to be less than a dollar.
Why do we always perceive gas prices to be $3.47 when it’s technically $3.479 per gallon? Same reason as the former.
Now, the interesting question is the second reason. Any thoughts? More importantly, how can you apply this into your own business?
This discussion will continue in the e-book, Creative Pricing and Packaging for Creative Professionals…available in your digital bookshelves this Wednesday, December 1st, 2010 at 10am! And yes, there will be a debut discount yay!
- If this piqued your interest, share with others via Retweet or Facebook buttons below.
- What do you think REASON #2 is? Comment below. I’ll confirm if someone gets it right.
- Preface: What are You Worth?
- Chapter 1: Psychology of Choosing
- Chapter 2: Choosing is Painful
- Chapter 4: Secrets on How to Handle Discounters
- Chapter 5: How to be Fearless in Pricing
- Chapter 14: 2 Steps for Naming Your Packages
P.S. I didn’t buy a wallet. In fact, I didn’t even get anything on Black Friday. I’m sad. In retrospect, I should have gotten new a vacuum cleaner.
P.P.S. Here’s a sneak peak of my photo shoot for an upcoming ad. The Facebook Gallery will be updated here.
P.P.P.S. Some kind and humbling words from Miguel Pola who read the content of this book.
I really feel confident now… And I’m going to change things up to maximize benefits for my bride and myself.
Just like what [b]ecker was saying a minute ago, anytime Lawrence is talking, I’m always ears open. This guy is a genius. He really really knows what he’s talking about.
So whatever market you’re in – whether pet groomer or photographer – the nice thing is that you can apply [these pricing and packaging strategies] to everything.