How I lost an iPod accesory and learned something about setting the perfect price.
The iPod Shuffle comes with this tiny, one-of-a-kind connector for syncing with your computer. Without it, your iPod is just a chip clip. Inevitably, I lost mine. And Apple is the only one that sells replacements — for $20. This price made me grumpy. But I had no choice, so I ordered it.
But when it arrived, my grumpiness melted. They had sent me two. A short and a long one. So I spent more than I expected. But I got more than I expected. More utility and, well, just more. So I didn't feel ripped off after all.
Apple knows. They understand there's no joy in buying a cable. And they know there's no business in selling me one for $4. So they found a way to make it worth their time — and mine. They did it by thinking through the mechanics and emotions of this otherwise mundane transaction to find a shared value.
How does your product price take into account the psychology of value?
Comments (0)
This thread has been closed from taking new comments.