This book is about how increasing the price of a product will increase the total sale and overall benefits the company. I bought this book because I sell my costom handmade resin crafts online and my father said that I price my products too high (people who bought my stuff never complained about the price but now I temporailly stop selling because I have to work on my AP art and other school works. This book contradicts the very popular belief which is "to increase the total sale, you should sale as cheap as possible to attract costumer". This book frankly said that, quote, "by reducing your price is the biggest mistake you can ever make". This book shows a unique perspective and when I thought about it, it made sense. If you lower price with the aim to increase the amount of sale, you would have to sell more products to get the same amount of profit or you would have to lower the making cost aka lower the quality of the product. If you increase the price by half, for instance, you would only have to sell half amount of products to get the same amount of profit which will save you time and energy to do something else. This book has a lot more details than what I just wrote, I know it sounds bad to just increase the price as much as you can but if you read this book, there are a lot more to it about why you should increase the price such as sale strategies and how to appeal to costumer even though the pricing is high. Overall, very interesting perspective on how to run a business and pricing and I think it will be helpful for me to sell my resin crafts which I will take it more seriously during the summer after I graduate.
Provide a good mindset about how to price your products. Aware of it or not you have already chosen your customer segments and they way you will run the business since you set the price. You should start to question yourself whether you price the product optimally, or else, there is a way to increase the price by redefining the presentation of its value.
This entire review has been hidden because of spoilers.