MBA962 Low Priced vs. High Priced Products + Free Ride Friday!

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 16 March 2018

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Go high, or go low?

When it comes to the price of your product, the decision you make will dictate your approach to everything from marketing to sales to customer service. While both the high-end and the affordable markets have their ups and downs, each comes with unique challenges and totally different customer expectations.

Today, we discuss all the factors involved in deciding whether to pursue the Mercedes or the Honda crowd. Low-cost products like Netflix and Spotify subscription services make billions, but involve certain risks and depend almost entirely on rapid scaling. Apple and Tesla can charge as much as they want, but each customer they earn is harder to acquire — and more devastating to lose.

Learn how your goals, strategies, and overall outlook will be different according to the price range of your products. Whether you’re choosing your path, or simply trying to maximize your profits with either approach, this episode’s for you. PS: It’s FREE RIDE FRIDAY!!! Click Play!

Transcript

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0:00.0	Hey everybody today is free ride Friday so make sure you hang on to the end of the
0:03.4	episode to hear who won this week's free ride every Friday we give away a lifetime
0:08.4	membership to one of our programs this month we're giving away easy course which is a
0:12.4	30-day course on how to build your own online
0:15.2	course in 30 days.
0:17.0	It's an online course that we sell over at Easycourse.com for $500, but we give away a free ride every week. All you got to do is leave us in iTunes
0:25.5	rating and review and you enter our weekly random draw. Then on Friday just
0:29.2	listening to see if you won. Leave us a review once and every Friday you get a chance to win.
0:34.3	All right let's jump into today's episode. Heyo!
0:47.0	Welcome to the 100 R.
0:48.0	R. B. It's more than just building a business. It's about building a legacy. Getting better every day with
0:54.5	our daily 10 minute business lessons for the real world. I'm your host, your coach, your
0:59.2	teacher, Omar's at home. I'm also the co-founder of the $100 MBA, a complete business training and community online
1:06.0	over at 100 MBA.net. And in today's lesson you will learn the difference between offering
1:12.2	low-price products versus high-priced products.
1:15.8	If you're launching a new business or a new product line, you need to make a decision when it comes
1:19.3	to your pricing.
1:20.6	And that major decision is, is it going to be a low-price product or a high-price
1:24.7	product both come with advantages and disadvantages and both of them cater to
1:29.6	different audiences different demographics.
1:32.8	In today's episode we're going to go down each path what it's like to have a business that sells
1:36.4	low-price products, what does that all look like, as well as what it looks like with high-price
	...

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