Giuliano Giacaglia 🌲
@giu
"My philosophy on pricing is that it should be rooted in value. Ideally, you price your product and you package your product specifically such that the, the value you create for a user for a particular package is way greater than the cost to them. There's a technique called a Van Westendorp pricing technique where you get sort of price sensitivity. And I actually think this is really underutilized by founders out there" - Dan Siroker, CEO and co-founder of Limitless
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Giuliano Giacaglia 🌲
@giu
This was a great conversation with Dan Siroker, co-founder of Optimizely and now CEO and co-founder of Limitless. We talked about his entrepreneurial experience over the years, building Limitless AI as a consumer technology company, how hard is to build a hardware product, technological waves, AI and the future. Highly recommend it: https://www.youtube.com/watch?v=EuJ6leLd0nU
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Benzzz🎩
@oisamaye
Totally agree! But how do you balance perceived value with actual value when setting prices?
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law
@traguy.eth
Icl I love the idea of pricing rooted in value.. Dan Siroker's philosophy makes a lot of sense, and the Van Westendorp pricing technique is indeed a powerful tool for understanding customer price sensitivity. But tbh I'm curious to challenge his point: doesn't pricing always involve a degree of arbitrariness and nuance? For example, what if a product or service creates immense value for a small percentage of customers, but the majority of users don't see that value (or don't care about it)? Wouldn't that mean that the "ideal" pricing strategy might not always align with the actual value created for the majority of users?
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Double D🎩
@daved
Don’t think founders care about this They just think about what price profits them best and would still be affordable by the more privileged masses and boom! Forgetting the middle and lower class 💀
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baeshy
@baeshy.eth
i agree, products should be priced based on the value not based on other things like "name of company" take apple for instance, they price all their gadgets and accessorries very high, bc of the name "apple' even when the product are not meant to be worth alot
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Pain
@painx
Focusing on value and understanding price sensitivity can make a huge difference in how customers perceive your product. The technique sounds like a valuable tool for founders to explore
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Kelvin🎩
@kel66.eth
If it’s worth the money It’s worth buying You got to know the value of what you’re buying and be like the price don’t matter, It’s worth it I have purchased cheap stuffs and be like IT SHOULD COST MORE As long as it’s valuable People will buy it
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Angelina_Caster
@myqueen201023
Yes, I think what you said is all true, I agree, price also determines the quality of a package or item to be purchased, because if you want a cheap price then the quality you will get will also be very low
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