There are many things that go into setting an appealing price for things. There are psychological rules that many companies follow that make people believe that they are getting a better deal than they really are. These rules aren't known by most people, and most consumers don't realize that their minds are being tricked.
One of the most common rules that is implemented is that by leaving the comma out of a large number, like $1000, it makes the number appear smaller at first glance. Take a look... $1000 vs. $1,000. When you first look, which number looks smaller to you? Another one of these pricing tricks is that when an item costs a dollar or less, it more appealing for the price to end in a 9, like .99 or .89. When an item is priced over a dollar, it is more appealing to have the price end in a 9 or go in increments of .50, like 9.99 or 9.50. When an item is priced over $100, it is best to keep the decimal out all together, and keep things to round numbers, like $115 instead of $115.00. All of these things make the customer believe they are getting a deal regardless of whether they actually are or not. So,next time you go shopping, pay attention to the price tag. It is saying more than you might think.
I heard a comedian once tell a joke about what it really meant to be famous. According to Mitch Hedberg, one was not really famous until they had a picture on a popular cereal box. He said that he wanted to be on the Rice Crispies Box. It would be Snap, Crackle, Mitch, and Pop. He then said, "It's all about who you know, and I know Crackle."
This joke is quite funny, but it isn't incorrect. If a product has the right face associated, or the right logo, it will be more appealing to the everyday consumer, and will sell more. Putting athletes on the Wheaties boxes proved advantages. Having a peanut in a top hat with a cane made all the difference in the world for Planter's. This principle doesn't only apply to food. A customer would likely pay two times the amount of money for a shoe with a picture of Micheal Jordan on the side than they would for the same shoe with nothing on it. A that sports Rachel Ray's name will be perceived as a better product. Perfumes endorsed by celebrities are more expensive, but they sell better. These facts are irrefutable, when it comes to branding, it really can be all about who you know.
Working in the Elevator Pitch, really made me think about all the things that go into planning a business and what it takes to get one's business out there. The only way for a business to grow is to bring it to the attention of the general public and potential investors. To do this, one has to do quite a bit of research. They would have to know their target market, all that there is to know about their product or service, and all there is to know about their competition. They would have to be different in some way in order to set themselves apart. Sure, one could just throw the information about their business out into the void that is the market, and see what happens, but that would be silly. The smart thing to do is to research, think, and know what you're doing, who you should be talking to, and who you are up against before casting your line.
One of the fastest growing positions in the job world is in the field of marketing. There are more and more positions available in marketing every day. Every company in the world has need of an expert in marketing, whether it be in traditional adverting or in the pr or customer relations. There is much more to marketing then advertising, so there really are almost endless potential job opportunities. Some companies may be in need of someone to organize focus groups. Other companies might just need an idea man. Whatever the need, it is evident on websites like Monster and Jobs.com. So if you're in search of a marketing job, I would say that now is the time to shine.
