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Double Price

 

DisciplinesMarketing > Pricing > Double Price

Description | Example | Discussion | See also

 

Description

One way of displaying product prices is to have two price labels on each product, each showing different prices. The real price will be the lower of the two labels.

If people query the actual price, say something like 'I'm not sure how this happened, but I'm going to sell it to you at the lower price.' If they don't query the price, you can still make some comment like this.

You can use this method in sales, typically with the lower-priced label overlapping another, making sure the lower price is still visible (at least in part and maybe wholly).

Another variant is to have a printed label and a written alternative price. This can be useful when doing individual re-pricing.

Example

A store having a sale prints yellow price labels and sticks them just overlapping the older white labels, so customers can see what a great bargain they are getting.

A seller deliberately puts two very similar labels on a product, with a significant price difference between them. They also put a a sign saying 'we sell at the lowest price' to give a hint. Sales people sometimes play 'confused' and then say they will, this time, sell at the lower price.

Discussion

When people see two prices, they may well think that there may be an error. This offers several alternatives if they are interested in the product. One is to assert that the lower price must be paid. When you agree to sell at this 'accidental' price, they feel they have got a bargain and will very likely buy it. Another alternative is to be honest and ask which is the real price. Again, finding that the lower price is the right one makes it very tempting. A further approach is to not ask and just hope -- again, being sold the item at the lower price is appreciated.

It is possible, of course, that the confusion between prices leads to a person not taking the item to the till just in case they get embarrassed as they would not want to pay the higher price. If you are not sure which approach your customers will take, perhaps a few experiments will give you sufficient data to decide whether this method is usable.

See also

Reduced To

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