Two consultants explain why asking customers directly what they'd pay gives skewed answers. They use a four-question framework instead: what's too cheap, a bargain, expensive, and prohibitive. Where those four price points intersect on a graph shows your optimal price.
A lot of people want to know, how do you decide your pricing?
If you ask your audience, hey, what do you want to pay for this community or product or whatever it might be, they're always going to give you a lowball answer.
This process teaches you to ask 4 questions.
What price would this be so cheap that you would really question the quality? At what price would you consider this to be a bargain? At what price would this be getting, you know, on the expensive side for you? And at what price would this be too expensive that it would be prohibitive for you? Then drops into a graph with 4 lines, and where the lines intersect, that's your sweet spot.
So it's a great way to be able to identify your pricing without skewing the results.
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