Oddities

[Andy]

Can someone explain why many tutorial sites have titles ending in 101 ? e.g. all you wanted to know 101

And, why do prices for internet marketing products always end in a 7 ?

I was planning to sell a product related to Internet marketing for around $20 but I am not sure what price exactly it should be set at  Possibly $19.97 is optimum? Or did I use too many 9's Maybe $19.77 is best? Or should I go for all the 7's $77.77 ?

[donecweb]

I don't know about every where but here in the USA the colleges label any basic beginner class as 101 so when someone makes a tutorial that is for beginners or a basic tutorial they add the 101. However there may be other reasons also.

[Menard]

And, why do prices for internet marketing products always end in a 7 ?

I was planning to sell a product related to Internet marketing for around $20 but I am not sure what price exactly it should be set at  Possibly $19.97 is optimum? Or did I use too many 9's Maybe $19.77 is best? Or should I go for all the 7's $77.77 ?

In the U.S. retail market, retail prices generally end in a 5 or 9 (e.g. 19.95, 19.99). A lot of retail chains follow a standard practice of ending a price with a 7 to indicate that it is a discontinued/devalued/clearance item; therefore indicating additional savings when purchasing this item.

I would not go with all 7s, but that's me and I really can't tell you why.

I don't know how well the 19.97 price would work online. Since it grabs consumer attention in the retail market, and consumers are gullible, it may well work online as well. With someone like me who is familiar with the retail market, it would suggest to me that the price is going to drop more, and I would just bide my time for a lower price.

[Andy]

Thanks for the answers guys.

For the price, I like the idea of $19.95

Funnily enough, I saw an Internet Marketing product today priced at $77 so they really like to use 7's in the price.

I should do a post called Product Pricing 101 maybe?

[donecweb]

Quite sometime ago (many years) here in the US marketing annalist found that pricing things at just under the round dollar caused customers to be more willing to buy. (I think it was more to do with the value of .05 then) The results showed that prices ending in .95 held a higher percentage of customers willing to buy than other options. Then the same annalist more recently decided that using odd numbers lower than .99 caused customers to consider the item to be reduced and on special if the ending is not .95. I personally do not believe this holds true any more. I think customers are more savvy now than they were but they also like the status quo and so continue to behave according to the results found in earlier testing like trained seals and because they are not given other options. Just my 2 cents