The worst mistake in marketing is assuming that a discount doesn't need promotion. How a discount is presented can significantly affect its perceived value and effectiveness.

Discounting your product can be detrimental; instead, structure discounts based on value and urgency to encourage sales.

The perception of value can be significantly influenced by how a product is presented, as seen in the case of IKEA, where the effort of assembling furniture increases its perceived worth.

Highlighting specific savings or benefits right away can create a compelling reason for users to engage with your product.

Creating perceived value is essential; it can be achieved through storytelling and psychological mechanisms, which can make products feel more valuable and enjoyable to consumers.

Pricing implies value; if your price is lower than competitors, customers may perceive your product as less valuable.

Consider offering a discount for commitment, such as 10-20% off for annual subscriptions, to encourage adoption and ensure revenue predictability.

The way we perceive prices and value is highly contextual and can vary significantly based on comparison and expectations.

If you're charging significantly less than competitors, you might be attracting customers who only want the cheapest option, leading to misleading data about your product's demand. Successful products often charge a premium rather than being cheaper than competitors, as they solve significant problems for customers who are willing to pay more for effective solutions.