From the course: Pricing Strategy Explained
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Scenario-based pricing
- So I want to caution you, there are limits. There's only so much you can push price up until the values starts to go, the curve starts to go the other way. And the customers then start to get angry, they can get angry at you for charging too much and not actually getting the value, and then they're going to go away. That's not a good situation. Now, there are opportunities or times when you have urgency or that you have a special situation that are maybe exceptions to this rule of no limits, but generally speaking there is a limit that people will hit where they say no more. Now, let me give an example. If I want to buy a beer at a local bar, my limit might be $10 or $12, and that's about all I'm going to spend for that beer, that's kind of my limit. However, put myself in a different situation, I'm at a concert, in the desert, it's very very hot and there's only one beer or even any type of beverage distributor right…
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