Are you continuing to be unsure about the way on how to price iPhone Apps? Well, here is some sage guidance. When it comes to pricing your iPhone App, you should to follow the crowds to make money. At least, initially. (more about that later)
At this juncture, you have discovered how to create iPhone Apps. You have built your App and now you are prepared to take it to the App Store. you are faced with an interesting quandary " pricing. And not just 'any price ' "you wish to price to attract the most buyers "so that you can make cash. Right?
There's an interesting saying that is commonly used in marketing circles when it comes to determining possible the costs to charge for a fresh product. It goes this way ""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.
But if this is your first iPhone App, there is no 'history ' about your claims on the exciting features and potent utility of your App. So , until you App is sold, downloaded, installed and used. And you begin to get User Feedback in the App Store, buyers usually will be skeptical of the quality of your App. And, if they are doubtful, then the higher you set your price the more skeptical they're going to be. Opps, if you price too high, you won't get the sale.
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 demanded / p.c. change in price
Now that you have the idea of PED, are you ready to work out the right pricing to make money? Great.
But what if I could give you a 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 really taking place to pricing in the Apple App store?
Back in April 2010, there was research carried out on the range of prices across the Applications in the Apple App store. It shows clear relationship between the pricing 'sweet spot ' discussed on Part 1 of this series and the price the majority of App Developers are charging. So , for all first time App Developers, it is vital that you 'follow the crowd ' when deciding the best way to price iPhone Apps and how to make money in the App Market.. To discover the surprising results of this research, and to also access Part 1 of this series visit how to price iPhone apps
At this juncture, you have discovered how to create iPhone Apps. You have built your App and now you are prepared to take it to the App Store. you are faced with an interesting quandary " pricing. And not just 'any price ' "you wish to price to attract the most buyers "so that you can make cash. Right?
There's an interesting saying that is commonly used in marketing circles when it comes to determining possible the costs to charge for a fresh product. It goes this way ""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.
But if this is your first iPhone App, there is no 'history ' about your claims on the exciting features and potent utility of your App. So , until you App is sold, downloaded, installed and used. And you begin to get User Feedback in the App Store, buyers usually will be skeptical of the quality of your App. And, if they are doubtful, then the higher you set your price the more skeptical they're going to be. Opps, if you price too high, you won't get the sale.
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 demanded / p.c. change in price
Now that you have the idea of PED, are you ready to work out the right pricing to make money? Great.
But what if I could give you a 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 really taking place to pricing in the Apple App store?
Back in April 2010, there was research carried out on the range of prices across the Applications in the Apple App store. It shows clear relationship between the pricing 'sweet spot ' discussed on Part 1 of this series and the price the majority of App Developers are charging. So , for all first time App Developers, it is vital that you 'follow the crowd ' when deciding the best way to price iPhone Apps and how to make money in the App Market.. To discover the surprising results of this research, and to also access Part 1 of this series visit how to price iPhone apps
About the Author:
Tom Jazman has been in the PC industry for over 30 years, starting with the earliest DOS Computers thru today's smartphone revolution. His revelations to the most recent industry developments and especially how to create iPhone Apps is both engaging and educational. Visit his internet site and discover how to make money with iPhone Apps and very much more.
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