Fair Pricing ---101
A few years ago, I went on a wine tasting tour in Napa Valley. For the record, I was just a beginner and haven’t tasted the difference between good and bad wine. In the demo, the tour guide had us try a sip of each bottle, and at the same time he would explain the different flavors you should taste. Some may be more fruity or acidic, etc. Each wine I tried tasted exactly the same as the last one I took. I was wondering if my taste buds were defective. Why does this expensive wine taste exactly the same as this cheap wine?
When you shop online, you will notice that many items will perform the same function but the price tag is a lot different. If you are new to online shopping, you won’t know the difference between the items and you will often choose the cheaper option to save more money. Some items will make a good first impression but won’t last long.
How do we determine a fair price? Well, we take a lot of things into consideration such as the quality of the item and the functionality. We want customers to get what they expect, and never less.