The Ice Cream Dilemma

Consider the classic ice cream cone, famously known as the 99! For those unfamiliar, a 99 consists of a vanilla ice cream scoop with a chocolate flake, all served in a wafer cone.

Originally priced at 99p, the cost has climbed to £2.50 from an ice cream truck in the park, and it can reach £3.50 in a store or even £5 at certain events.

Despite being the same treat, various factors like location, weather, and the overall experience can greatly influence our perception of its value. This notion extends to everyday shopping, where we often reflect—albeit briefly—on whether the price feels justified.

Finding the Ideal Price Point

When it comes to pricing an item, where does one find the ideal price?

Let’s examine my Productivity Playbook as an illustration. While it might seem like a mere advertisement, the focus here is on understanding value rather than just sales figures.

The Playbook was crafted to showcase diverse strategies for enhancing efficiency and productivity, utilizing both applications and services. For some, this knowledge is invaluable and could significantly enhance their daily routines. Others may think, “I’ve read similar content before.”

So, what’s the right price? If it’s too low, it may lack the seriousness it deserves, making it seem undervalued. Conversely, a high price may lead potential buyers to see it as overpriced.

For instance, if someone else is selling similar content for £20, that reflects their assessment of its worth. Their sales figures might vary, but their credibility in the field matters. If they have a solid reputation and expertise, they could justify a higher price.

I could set my Playbook at £20, based on my experience and research, but then I’d limit its accessibility. Perhaps £10 would be more reasonable, yet it still feels slightly steep and might not broaden my audience significantly.

What about reducing it to £5? Is that too low? Am I undervaluing my contribution? Would you consider purchasing it for that amount?

With over 20 pages filled with insights on improving your life and recommendations for helpful apps, I believe £5 is a fair price. Given that this is a side project for me, it remains affordable, especially in today's economy, making it accessible to more individuals who could benefit from it.

Ultimately, I feel this pricing is suitable, and it allows me to maintain a sense of fairness as a seller, while also making the buyer feel they are making a good choice.

So, what value do you attribute to something someone has dedicated time and effort to create, which can assist you in achieving more daily?

Unsurprisingly, there’s an option to purchase my Productivity Playbook for the attractive price of £5, with an additional 20% discount using the code MEDIUM20—this offer won’t last indefinitely.

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If you'd like to receive my articles straight to your inbox, click here. Join with this link for complete access to Medium's offerings while supporting my work. Alternatively, you could buy me a coffee as a gesture of appreciation—20% of the proceeds will be donated to Cancer Research UK. Lastly, don’t forget to check out my Productivity Playbook filled with tips for achieving more, using the code MEDIUM20 for a 20% discount at checkout.