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Quick and Easy Pricing Opinion - Do You Like $9, $9.95, $9.99, or $10?

jhelmsjhelms Registered Users Posts: 651 Major grins
edited October 10, 2008 in Mind Your Own Business
Here's a quick and easy pricing opinion question for you... which of the following pricing conventions do you prefer for a given product?

Example: a product you wish to sell for roughly $9 to $10

Price it at $9, $9.95, $9.99, or $10 even?

(Assume this would play out through the rest of your pricing range... $19.00, $19.95, $19.99, or $20, and so on).

I guess the Wal-Mart ideology might even through another choice in the mix, they like odd numbers like $9.73 - it makes the consumer think that "surely that must be the lowest price available, otherwise how else would they have come up with such a random number".

Which method do ya'll prefer and why?
John in Georgia
Nikon | Private Photojournalist

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    mbellotmbellot Registered Users Posts: 465 Major grins
    edited September 30, 2008
    Personally I prefer even dollar amounts, but I understand the pseudo psychology behind the x.95 and x.99 pricing.

    Oh, and Wally World (and many other retailers) regularly use the pennies to indicate where the product is in its "life", from new to clearance (for example Sam's Club uses x.91 for clearance items).
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    jhelmsjhelms Registered Users Posts: 651 Major grins
    edited September 30, 2008
    mbellot wrote:
    Oh, and Wally World (and many other retailers) regularly use the pennies to indicate where the product is in its "life", from new to clearance (for example Sam's Club uses x.91 for clearance items).

    Cool, I never knew that part of it.

    I've also thought about streamlining my pricing structure. For my regular galleries, I offer almost every size and finish but for weddings/portraits I offer only lustre and metallic - 'zat sound about right?
    John in Georgia
    Nikon | Private Photojournalist
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    BiffbradfordBiffbradford Registered Users Posts: 119 Major grins
    edited October 2, 2008
    If I wasn' told that, I would have never guessed it!
    Peloton-Pix.Com
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    KMCCKMCC Registered Users Posts: 717 Major grins
    edited October 2, 2008
    For what it's worth, I'm also an even dollar advocate.

    Having majored in psychology, I also understand the presumed advantage of $XX.99 pricing, but $9.99 is still $10 as far as I'm concerned. :D

    Kent
    "Not everybody trusts paintings, but people believe photographs."- Ansel Adams
    Web site
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    mbellotmbellot Registered Users Posts: 465 Major grins
    edited October 2, 2008
    jhelms wrote:
    I've also thought about streamlining my pricing structure. For my regular galleries, I offer almost every size and finish but for weddings/portraits I offer only lustre and metallic - 'zat sound about right?

    I only offer Lustre, and only "standard" sizes from 4x6 to 8x12.

    Metallic wasn't an option when I set up my pricing and I haven't had a chance to evaluate them yet so they remain disabled.

    If someone wants a print larger than 8x12 I want to spend some time with the file first.
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    jhelmsjhelms Registered Users Posts: 651 Major grins
    edited October 2, 2008
    mbellot wrote:
    I only offer Lustre, and only "standard" sizes from 4x6 to 8x12.

    Metallic wasn't an option when I set up my pricing and I haven't had a chance to evaluate them yet so they remain disabled.

    If someone wants a print larger than 8x12 I want to spend some time with the file first.

    Have you found anyone having an issue finding frames for the 8x12's? I'd much rather my clients get 8x12's than have to crop into an 8x10, but I think most of them just choose 8x10 out of habit (not thinking about the crop / ratio factor).

    I haven't found any 8x12 frames in stock locally over the past few months after checking with 12-15 stores.
    John in Georgia
    Nikon | Private Photojournalist
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    mbellotmbellot Registered Users Posts: 465 Major grins
    edited October 4, 2008
    jhelms wrote:
    Have you found anyone having an issue finding frames for the 8x12's? I'd much rather my clients get 8x12's than have to crop into an 8x10, but I think most of them just choose 8x10 out of habit (not thinking about the crop / ratio factor).

    I haven't found any 8x12 frames in stock locally over the past few months after checking with 12-15 stores.

    I've never had one ordered, so I can't answer. rolleyes1.gif

    I have had customers fail to adjust cropping and end up lopping off their own kid's head (who hasn't fantasized at least once). Fortunately the fine folks here made it right the first time it happened, and ever since I've had proof delay turned on. If you don't use it yet I highly recommend it.
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    G. MillerG. Miller Registered Users Posts: 7 Beginner grinner
    edited October 10, 2008
    Personally, I like even dollar amounts (pricing that ends in $ .00), but I prefer to stay away from figures like $5.00, $10.00, $15.00, $20.00, etc. Instead, I go with something along the like of $9.00, $17.00, $26.00, & $48.00 . Random pricing in the general ballpark of even money.

    - Gary

    jhelms wrote:
    Here's a quick and easy pricing opinion question for you... which of the following pricing conventions do you prefer for a given product?

    Example: a product you wish to sell for roughly $9 to $10

    Price it at $9, $9.95, $9.99, or $10 even?

    (Assume this would play out through the rest of your pricing range... $19.00, $19.95, $19.99, or $20, and so on).

    I guess the Wal-Mart ideology might even through another choice in the mix, they like odd numbers like $9.73 - it makes the consumer think that "surely that must be the lowest price available, otherwise how else would they have come up with such a random number".

    Which method do ya'll prefer and why?
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