5min chapter

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#6: The psychology behind effective pricing

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CHAPTER

How to Reduce the Risk of High Value Products

High value products are obviously high risk because they're so expensive. Sybil suggests ar allowing customers to taste the wine to reduce that risk, offering glasses rather than a full bottle and importantly, giving descriptions that actually help consumers see the value and justify their purchase. Another thing to consider if you're doing something like a paper month option to reduce the risk is how you present your time frame. The same price will seem more or less attractive based on the payback time frame you offer.

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