- How to structure your business correctly: From sole proprietorship to C-Corp Yahoo! Small Business Advisor
- 3 Steps for Finding Your Next Top Performer Entrepreneur
Can companies say their product is worth any number they want to make you think you're getting a deal?
I was looking at this website that sell "World's best knife set". They list 12 knife set and say "this is WORTH $300 but you can get it for $100!" and it shows the wood block and says "this is WORTH $100 but you can have it for $40". So my question is, do they just basically just make up that worth number?...clearly if the knives sell for $100 then they aren't worth more than $100. You know what I'm saying- how can they possibly say the block is worth $100...it's a piece of wood that probably cost you $3 and you're selling it for 40.1 year ago - 4 answers
Here is a good example. Have you ever heard of Jos. A. Bank? I have nothing against the company, but they have a funny marketing method. They outrageously overprice all of their suits and then give "AMAZING 2 for 1 SPECIALS." In reality, the suits are probably worth 25% of the list price, so they are still making 50% (not accounting for overhead, just cost of goods sold).
Yup, they can make up whatever number they want. Have you ever seen prices in stores increase right before a big sale? People like the idea of a discount, even though it may not actually mean anything.
Go to a store.
I think Bed Bath And Beyond sells good knives.
Never buy anything that you can't touch first.
You could be getting some flimsy bendable knives.
Certainly. Puffery.... Anything is okay in war & advertising .....by rick29148 - 1 year ago
It is just marketing and lots of people fall for it. There is another way of making things more desirable by raising the price. This is based on rich people not wanting to be thought of as cheapskates. Applies to more 'luxury' goods. It is no good selling things like Champagne cheaply for example.by Raysor - 1 year ago