Booklet Tips From Paulette: Pricing Presentation

There is a psychology to pricing. It is also both an art and a science. Our friend and colleague, Marcia Yudkin, has once again, presented very useful findings on how your sales are impacted by how your pricing is visually presented. See what you think and test it out for yourself.

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The Marketing Minute
by Marcia Yudkin, Marketing Expert and Mentor
http://www.yudkin.com/markmin.htm

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A price is a price, right? Not really, according to Cornell
University researchers, who tested whether restaurant owners
would profit most when menu prices were formatted as $20.00,
20.00 or twenty dollars.

To their surprise, the 20.00 format netted the most, with
customers spending 8 percent more when menus used numerals
to represent prices, minus any dollar signs.

Without the dollar sign or the word "dollars," diners were
apparently reminded least that what they were ordering was
making them a tiny bit poorer.

Specialists in the field of "menu engineering" have also
discovered that menus bring in more revenue when they insert
prices at the end of each small paragraph describing the
item, rather than all lined up in a column that can be
quickly scanned from top to bottom.

Likewise, those who study these things tell us that we
tend to perceive $23 to be less than $23.00.

One more finding: When looking at menus, we take prices
like $20.00 as indicative of higher quality food than
prices like $19.99.

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MARKETING COACHING CLUB: I didn't master marketing through
academic study. A key element of putting all the pieces
together on my own was listening to recorded "hot seats"
where a marketing wizard or two would apply timeless
principles for getting customers, packaging an offer or
closing the sale to a particular person's project.

You can listen to my own kinder, gentler version of "hot
seats" in a membership program that brings you a Feedback
Feast® on CD each month, along with a second CD where I
interviewed an expert on a related marketing topic.

Whether you look at the price as $37, $37.00 or thirty-seven
dollars, my CD Club is great value for your marketing
education. Sign up now so you won't miss any months!

http://www.marketingformore.com/cdclub.htm

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MORE MARCIA...

Marketing Mastery CD Club:
http://www.marketingformore.com/cdclub.htm

Mentoring Program:
http://www.marketingformore.com

Naming & Tag Line Service:
http://www.namedatlast.com

Press Releases & Distribution:
http://www.pressreleasehelp.com

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If you enjoy The Marketing Minute, please forward it to
friends and colleagues. It comes to you every Wednesday
from publicity and marketing consultant Marcia
Yudkin, author of Web Site Marketing Makeover and
10 other books. P.O. Box 305, Goshen, MA 01032.

For a free weekly marketing tip, subscribe:
http://www.yudkin.com/markmin.htm

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Until next time,
Paulette - who is about to test these findings, and who is grateful to Marcia Yudkin for her wisdom