…Ever wonder why most prices end in 99?…Have you ever wondered why Apple chose 99 cents…as the base price for a song on I-Tunes.…There is actually some sound retail psychology behind it.…Many studies have shown that a price ending in 99 makes a product's price…look more attractive than one that is rounding up to a full dollar amount.…This is why you see so many prices at stores…in the mall end in either 99, 98, or 95.…If a piece of clothing is priced at $999 has a much better…chance of selling than if it's priced at $10 according to the research.…
You can see this with high ticket items like cars with…prices like $24,995, because it doesn't…break the psychological barrier of $25,000.…When it comes to buying a song, 99 cents just seems like…a lot less then a dollar even though it's almost the same.…The same holds true of Amazon song pricing at…69 cents, which still seems less than 70 cents.…We've been trained by years of buying at retail to…look at the nine at the end of the price tag.…It's just comfortable for us.…
Author
Released
5/9/2014Next he moves into the digital realm, giving an overview of the digital music services and players available. Bobby shows how giving away some of your music can actually lead to more sales, and how to set the price point for your music. He discusses the importance of metadata and registering your songs with performance rights organizations to ensure you get paid when your music is played on the radio, TV, or the Internet. Finally, Bobby wraps up by explaining how to submit your music to the largest online services, including Spotify, Pandora, and iTunes.
Skill Level Intermediate
Duration
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Introduction
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Welcome1m 6s
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1. Selling CDs
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How to submit to Gracenote3m 10s
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2. Selling Music Digitally
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Why the $0.99 price point?1m 55s
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The four kinds of free2m 26s
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The new release schedule1m 55s
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Conclusion
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What's next?1m 6s
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Video: Why the $0.99 price point?