Comments on: Could tech companies be more successful if they set higher prices for their goods and services? https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/?utm_source=rss&utm_medium=rss&utm_campaign=tech-companies-successful-set-higher-prices-goods-services&utm_source=rss&utm_medium=rss&utm_campaign=tech-companies-successful-set-higher-prices-goods-services Discussing ICT, telecommunications and technology Issues from a Caribbean perspective Wed, 07 Nov 2018 10:13:53 +0000 hourly 1 By: Kamutula https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/#comment-172241 Wed, 07 Nov 2018 10:13:53 +0000 https://www.ict-pulse.com/?p=141727#comment-172241 One famous business person calls it FOMO – a cocky acronym for “fear of missing out”. But in terms of pricing, FOMO has only one result: a “race to the bottom”. A more solid and reassuring strategy is to formulate and execute a strong value proposition.

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By: Michele Marius https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/#comment-172240 Mon, 05 Nov 2018 12:34:57 +0000 https://www.ict-pulse.com/?p=141727#comment-172240 In reply to Steve Foerster.

Steve,

That is certainly a valid point, re Apple’s price versus innovation.

It will be interesting to see what Apple does in the next year or so. People are already holding on to their Apple devices a bit longer, and not replacing them as frequently, so their customers may already be getting close to the limit of how much they might be prepared to pay.

Question though: Should need another laptop in the not-too-distant future, do you think you will buy another MacBook/Apple device?

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By: Michele Marius https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/#comment-172238 Mon, 05 Nov 2018 12:24:41 +0000 https://www.ict-pulse.com/?p=141727#comment-172238 In reply to Kamutula.

Kamutula,

That is so true!

However, companies can also find themselves getting into price wars, which can ultimately diminish the value of products/services being offered…

On the other hand, if the product or service is truly good/truly worth it, and after careful research and consideration, it may be better to rank it as a premium product/service – recognising though that the prospective customer base might be considerably smaller than for a more mass market product/service.

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By: Kamutula https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/#comment-172236 Mon, 05 Nov 2018 11:26:56 +0000 https://www.ict-pulse.com/?p=141727#comment-172236 Good points.

Price adjustments to any product category is largely determined by elasticities of demand for that product within its market segment. One cannot just wake up one morning and say I am increasing the price for product A, let’s see what happens…

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By: Steve Foerster https://ict-pulse.com/2018/11/tech-companies-successful-set-higher-prices-goods-services/#comment-172235 Fri, 02 Nov 2018 18:02:46 +0000 https://www.ict-pulse.com/?p=141727#comment-172235 I’d never bought an Apple product before, but I bought a MacBook Air about two years ago because it met my specific requirements for weight, battery life, etc. and because as much as I wanted to love Linux, I was tired of having to muck about with it in order to get it to do simple things.

But price was a factor, and the MacBook Air was the most expensive computer I considered. Had it been $200 more, I might not have made the switch. I realise there will always be a higher price tag attached to the Apple logo, but they should tread cautiously, particularly when their products are no longer advancing as innovatively as they did when Jobs was running the place: https://www.macworld.com/article/3318217/macs/mac-mini-mac-pro.html

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