Ted Nicholas is a marketer with a proven track record. He has started, operated and sold 21 profitable businesses, and is responsible for the direct or indirect publishing of hundreds of books and publications. Ted Nicholas is a well- known and respected leader in the information marketing business.
Ted Nicholas has mastered the art of selling. His million dollar best selling books and other successful ventures will show you how you can use the power of the written and spoken word to grow your business.
His business development strategies are designed to help you achieve higher profits and lower taxes. Ted has assisted hundreds of entrepreneurs in building successful businesses. His skills as a copywriter and direct mail marketer have earned him the title "Guru of Direct Mail Marketing".
All of that notwithstanding however, in my not so humble opinion, he has also perpetrated one of the biggest and most inaccurate fallacies in the history of marketing.
Ted has convinced countless number of marketers to, when pricing their products and services end their prices with a "7."
For example, instead of pricing your product at $19.95, price it at $19.97. Or better yet, he advises dropping the change altogether and pricing your product at $17.00 or $27.00 or $97.00. His research supposedly proves that the number seven dramatically increases sales.
Even more remarkable is how many marketers accepted this fallacy as gospel, without doing any real testing of their own.
I have no idea what scientific formula Ted used to arrive at his conclusions, but with all due respect to Ted Nicholas, his theory's a bunch of bull!
How do I know? Because I thoroughly tested his theory myself and discovered no discernible difference in response or profits.
I also base my conclusion on perhaps the greatest authority in marketing: Televison infomercials.
If you want to see marketing at its absolute finest, watch television infomercials. Yes, I know many of the products are garbage and don't work as advertised, but the marketing itself is simply brilliant! And their market research is second to none.
In other words, producers of television infomercials are masters at pricing products for optimum response.
And almost without exception, every infomercial I've watched over the years, regardless of the product, have prices that end with a five or a nine. For example, $29.95, $39.99, $249.95.
Of course, you don't have to take my word on this, you can check it out yourself at:
This website features literally thousands of the famous tv products you've seen advertised over the years. Just check how they price their products.
And I'll take it one more dramatic step further. I'm sure you've heard of Ron "Veg-O-Matic" Popeil. But just in case you haven't, I'll give you some background information.
Ron Popeil is the undisputed "king" of infomercials and a multi-millionaire many times over. Over the last 40 years he has sold more than a billion dollars worth of products. He was voted by "Self" magazine readers as one of the 25 people who have most influenced the way we eat, drink and think about food.
The 70 year old Popeil is still going strong, his latest product, the "Showtime Rotisserie and BBQ"--which he invented--flies out the door by the thousands every week.
Here's his website: http://shop.ronco.com/
Again, check out how he prices his products.
This man has sold more than a billion dollars worth of products, so I would say he's got this pricing thing pretty well mastered, wouldn't you?
In conclusion, the number "7" may be lucky in dice, but in marketing, it's just another number!
About The Author
Dean Phillips is an Internet marketing expert, writer, publisher and entrepreneur. Questions? Comments? Dean can be reached at mailto: dean@lets-make-money.net
Double your income! Internet marketing expert, Dean Phillips will teach you how to double your income, starting today...Guaranteed! For details just visit my website.
Website: http://www.lets-make-money.net
Effective marketing for the small business begins with market researchIf... Read More
Everything you've ever learned about marketing and advertising is WRONG.... Read More
Do you have a website? A Web Newsletter? A mailing... Read More
Advertising is the lifeblood of any business. If you do... Read More
Do you ever wonder if you could be doing a... Read More
Effective customer newsletters find the right mix of promotional and... Read More
Every January, trade publications put out a list... Read More
There are basically two ways in which you can either... Read More
Benefits, that's what!Whether you're selling in print or in person,... Read More
Have you ever noticed how many times it's the simplest... Read More
1. Examine your clientele and define your ideal client. Of... Read More
I met a lady who said she received a notice... Read More
Under normal circumstances, you'd shout it from the rooftops. After... Read More
For centuries and most of the decades in the 20th... Read More
When you want someone to like you, associate yourself with... Read More
To help promote your small business or professional practice, consider... Read More
Do you find it hard to ask for referrals? I... Read More
In a recent marketing workshop I attended, I discovered that... Read More
Here are 5 high-impact marketing tips you can use to... Read More
Small business marketing is not like taking a family vacation.Did... Read More
Without a doubt, if you asked me, Shane if there... Read More
The foundation of success is in your mind. You do... Read More
I often talk with business owners who tell me how... Read More
As I was preparing for a presentation recently, I was... Read More
Here's a proven, and truly easy way to start increasing... Read More
We all DO judge a book by its cover, and... Read More
A few decades ago, in the early days of automatic... Read More
The most important part of any marketing you do is... Read More
Which sale is the most important one you will ever... Read More
Want to know what the highest-impact, lowest-cost tool is in... Read More
Every professional or consultant knows that clients typically hire people... Read More
"Buy this magazine or we'll shoot the dog," went a... Read More
You may not realize it, but you already have a... Read More
How would you use business cards for gift certificates?I asked... Read More
Little Kids Ask Until They Get What They Want.Mom, Mom,... Read More
Too many loan officer websites look like congested intersections, information... Read More
Owning a small business isn't easy, especially if you are... Read More
A Complaint? It's a Compliment!What made you mad last week?In... Read More
One of the most cost effective marketing strategies you can... Read More
I'd like to introduce you to someone. I don't actually... Read More
As a business owner or marketer, if you don't reverse... Read More
Dear Friend:Don't do it.Don't start your fundraising letters with "Dear... Read More
There is no shortage of marketing programs, many with great... Read More
You've probably bought a book or two at one of... Read More
Pop quiz! If you have to say goodbye to your... Read More
One rule in direct mail is that your letter sells... Read More
It's a fact that your customers are your best leads.... Read More
Multi-level marketing is really a partnership. You go into... Read More
So you have a Web site. And so does most... Read More
Some people are happy with just a business card. For... Read More
The telephone enables a credit manager to make many contacts... Read More
Sometimes we loose site of the small things in life... Read More
Far too often we see small businesses rush into doing... Read More
HOW YOUR LIST AFFECTS POSTAGE COSTS AND WHAT YOU CAN... Read More
Want a big boost in response and quick sales from... Read More
Our ego can get in the way of marketing our... Read More
"Networking is a waste of time," said JoAnne, owner of... Read More
The highly entertaining Donald Trump's search for an apprentice turned... Read More
Have you ever chosen to pay attention to someone just... Read More
If you're just dipping your toes into the waters of... Read More
Referrals are an extension of Networking. If people like you... Read More
In the fundraising profession, appeal letters that you mail to... Read More
Postcards can drive a huge amount of traffic to your... Read More
Grant Businesses have a love-hate relationship with the Yellow Page... Read More
If you're in the IT business, that's an important question.Most... Read More
If you are in the mobile car wash business and... Read More
Marketing |