Originally Posted by xendula
Last night, Hachette dropped the price of JK Rowling's "A casual vacancy" from $17.99 to $14.99. Had they had great sales, they would not have dropped the price. However, the steep price of the book made people more critical of the content, and book only has 3 stars. Many reviewers voiced that they expected more for the price.
This proves that, as consumers, we do have the power to influence pricing.
Or they dropped the price because they've mined all the consumers willing to pay $17.99 and are now looking to expand their sales to people willing to pay $14.99 or people who like to think they are getting a deal because the price dropped. All the while maintaining the illusion of quality based on the original price point.
Price points work in mysterious ways.