Are you still uncertain about the best way on how to price iPhone Apps? Well, here is some sage advice. When it comes to pricing your iPhone App, you do want to follow the crowd to earn money. At least, at first. (more about that later)
At this point in time, you have discovered how to create iPhone Apps. You have built your App and now you are prepared to take it to the market. But , you are faced with a fascinating quandary " pricing. And not just 'any price ' "you want to price to attract the most consumers "so that you can earn money. Right?
There's a fascinating saying that is often used in selling circles when it comes to determining possible the costs to charge for a brand new product. It goes like so ""there are no bad products, they are only bad costs for a product".
On one hand this indicates, folk will purchase even average products, it they are priced right. And on the other hand, it implies, folks will pay a premium price for a product that they perceive to be of high standard.
However , if this is your very first iPhone App, there's no 'history ' about your claims on the thrilling features and dynamic usefulness of your App. Hence till you App is sold, downloaded, installed and used. And you start to get User Feedback in the App Store, customers customarily will be doubtful of the functionality of your App. And, if they're skeptical, then the higher you set your price tag the more doubtful they'll be. Opps, if you price too high, you will not get the order.
If you were to hire a Promoting consultant, they might go into a long conversation about the science of Price Elasticity of Demand (PED). They might explain PED is a measurement of responsiveness of the quantity of a good or service demanded to changes in its cost. ] The expression for the coefficient of price elasticity of demand for a product is :
E = percent change in quantity requested / percent change in price
Now you have the theory of PED, are you prepared to calculate the appropriate pricing to earn money? Great.
But what if I could give you a rather more 'practical ' approach? Would you be intrigued? Sure! So now, let's move beyond the theory and go to the actuality. Do you want to find out what is truly occuring to pricing in the Apple App store?
Back in April 2010, there had been a study done on the range of costs across the Apps in the Apple App store. It shows clear alignment across the pricing 'sweet spot ' detailed on Part 1 of this series and the price lots of App Developers are charging. Hence for all first time App Developers, it's vital that you 'follow the crowds ' when deciding the easiest way to price iPhone Apps and how to make money in the App Market.. To learn the valuable results of this study, and to also access Part 1 of this series visit how to price iPhone apps
At this point in time, you have discovered how to create iPhone Apps. You have built your App and now you are prepared to take it to the market. But , you are faced with a fascinating quandary " pricing. And not just 'any price ' "you want to price to attract the most consumers "so that you can earn money. Right?
There's a fascinating saying that is often used in selling circles when it comes to determining possible the costs to charge for a brand new product. It goes like so ""there are no bad products, they are only bad costs for a product".
On one hand this indicates, folk will purchase even average products, it they are priced right. And on the other hand, it implies, folks will pay a premium price for a product that they perceive to be of high standard.
However , if this is your very first iPhone App, there's no 'history ' about your claims on the thrilling features and dynamic usefulness of your App. Hence till you App is sold, downloaded, installed and used. And you start to get User Feedback in the App Store, customers customarily will be doubtful of the functionality of your App. And, if they're skeptical, then the higher you set your price tag the more doubtful they'll be. Opps, if you price too high, you will not get the order.
If you were to hire a Promoting consultant, they might go into a long conversation about the science of Price Elasticity of Demand (PED). They might explain PED is a measurement of responsiveness of the quantity of a good or service demanded to changes in its cost. ] The expression for the coefficient of price elasticity of demand for a product is :
E = percent change in quantity requested / percent change in price
Now you have the theory of PED, are you prepared to calculate the appropriate pricing to earn money? Great.
But what if I could give you a rather more 'practical ' approach? Would you be intrigued? Sure! So now, let's move beyond the theory and go to the actuality. Do you want to find out what is truly occuring to pricing in the Apple App store?
Back in April 2010, there had been a study done on the range of costs across the Apps in the Apple App store. It shows clear alignment across the pricing 'sweet spot ' detailed on Part 1 of this series and the price lots of App Developers are charging. Hence for all first time App Developers, it's vital that you 'follow the crowds ' when deciding the easiest way to price iPhone Apps and how to make money in the App Market.. To learn the valuable results of this study, and to also access Part 1 of this series visit how to price iPhone apps
About the Author:
Tom Jazman has been in the computer industry for over 30 years, beginning with the earliest DOS PCs through today's smart phone revolution. His insights to the latest industry trends and particularly how to create iPhone Apps is both engaging and informative. Visit his site and discover how to make money with iPhone Apps and much more.
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