The Truth About The Fallacy Of 7

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:

http://www.AsSeenOnTV.com

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

dean@lets-make-money.net

---

Networking: The Cost of a Connection

"Networking is a waste of time," said JoAnne, owner of... Read More

The Key to Success

Good business is about communication... not just what you say... Read More

Marketing Strategy 101: 10 Marketing Strategies I Learnt From My Oral Surgeon

This is how the conversation went on my follow-up visit... Read More

Advertising Your Private Practice: 6 Tips for Maximizing Your Results-Part 2

As discussed in part 1 of this article, "Your Private... Read More

Renting Your Mailing Lists to Others

RESOLVING THE "PROPRIETARY" DILEMMA... SHOULD YOU RENT YOUR OWN MAILING... Read More

Promotions for Mobile Detailers

Mobile businesses are quite unique in the way they must... Read More

Get Personal: Letters vs. Direct Mail

One of the reasons direct mail works is the personal... Read More

Marketing Success - Marketing Strategy - Brand Identity Guru

Marketing message x Credibility x Visibility = Marketing SuccessThese three... Read More

Direct Mail Response Rates Low? Eliminate These Mistakes

Are your direct mail response rates lower than you expect?... Read More

Creating Your Own Lead Capture Pages

Having a downline can be golden. A downline is a... Read More

Are Keywords Destroying the Flow of Your SEO Copy?

With all the shuffling that's been seen in the search... Read More

10 Reasons Why Businesses Fail at Marketing.

1) They don't fully understand it.Perception: Marketing is advertising. Reality:... Read More

4 Sales Strategies with Your Trade Show Exhibition Booth

Trade show booths can act as an excellent source for... Read More

Like Brushing Your Teeth

What do the following things have in common: brushing your... Read More

Collecting Customer Data The Easy Way

Market research is a critical component of any marketing strategy.... Read More

Five Steps to a Web Site That Sells

I'm always amazed that people would spend months to develop... Read More

Five Steps to Partnering with Companies to Build Your Client Base

Wouldn't you love a simple formula for easily growing your... Read More

Common Exhibit Marketing Mistakes: Ten Tips on How to Avoid Them

The key to great exhibiting is marketing. But marketing is... Read More

How to Profit from Your Expertise (Part 1 of 2)

Are you looking for a natural way to market your... Read More

Marketing is More Than a Token Process

"Necessity is the mother of invention!" The first time I... Read More

Finding Your Niche: What Do You Want To Be Known For?

In my experience, there are two kinds of small business... Read More

Make It A Threesome

What if -- every time you had a networking appointment... Read More

Wealth Knowledge & Power ? Lost Secrets From Ancient Masters

Behold! He with the light cometh!He shall light thy darkest... Read More

Getting Your Services Used

Every day I talk with professional service providers who do... Read More

How To Market Effectively Even If No One Understands What You Do

So how do you effectively market your product or service... Read More

How to Magnetize Your Business

Do you ever wonder how some businesses always seem to... Read More

Systems - Marketing Your Business Successfully

Business Systems that work for anyone, are a fundamental necessity... Read More

Demographics For the Masses

Information is the lifeblood of the economy. That's especially true... Read More

First to Market Theory

AGE OLD QUESTIONBusiness scholars throughout the planet keep asking the... Read More

Why You Dont NEED a Marketing Plan

If you pick up a copy of the November 2003... Read More

5 Tips to Heat Up Your On-Line Marketing Using Off-Line Tactics

The internet of course brings a huge arena of marketing... Read More

Differentiate or Die

Sounds pretty harsh, doesn't it? Well, I can tell you... Read More

Increase Repeat Business and Referrals with Direct Mail

So you have been writing mortgages like crazy now for... Read More