Back to top

Proposal for pricing on professional photos: prices that are reduced over time

We recently participated in an event that included photos taken by a professional photographer. The photos are OK and they're of my wife while she's 8 months pregnant - a pretty special time.

Unfortunately, we were only told after the event that the photos would be $125 to get the high quality digital version of the file. Right, one hundred twenty five US Dollars. I have a hard time imagining that any of her customers are going to buy more than one photo. Maybe two...but that's it. We will not buy a single one. I bet a lot of her other customers are that way. So, here's what I propose:

Simple price differentiation for professional photos

The problem is that some of her customers will pay $125 for some of the photos. And for those customers it is worth it and she makes a pretty good amount of money from it. But she is leaving some value uncaptured. We would probably pay $20 for a few of the photos of us. And some of the other people would probably pay $50 for their photos.

The classic econ 101 perspective on this is that you choose a market price and go with it. Supply and demand intersect and there you go.

Graduates of Econ 102 (or marketing 101) should get into the next layer, though: price differentiation. Price differentiation is charging different prices for the same product.

  • The current scenario is this: she sells 2 extra photos at $125 and makes a total of $250.
Category: 
People Involved: 

How not to share "stolen" books

Taxonomy upgrade extras: 

Perhaps techdirt will agree with this strategy (it's a form of "CWF+RTB" after all, they have a service and the reason to buy is to keep the site online) but this just cracks me up. A site which provides pointers to illegal copies of books has a little call to action in the right sidebar asking you to donate to keep their server online.

Not surprisingly, the visitors (people who are interested in free books) have given 0% toward the target of $150.

The footer message from the site declares:

My Mom Is Wicked Smart: How To Apologize

My mom is wicked smart. When I was a kid I would often say "I'm sorry" in a manner that wasn't good enough for her. She had a formula for how to apologize and amazingly enough it has proven enormously valid and useful. One drawback for me is now that I've been trained in how to apologize I insist on receiving apologies in this format from other people. They're not always so ready to do this and are sometimes genuine in their apology without doing the whole system, but usually I can recognize that and move on. Usually.

People Involved: 
timeline: 

Slime Sandwich - Denver Technology Revival

The Photobucket site is a bit of a local Denver phenomenon. Started by Alex Welch who graduated from CSU at about the perfect time to launch a tech startup in Colorado. Photobucket is not nearly as well known among the tech crowd as Flickr and yet Photobucket beats Flickr in a variety of metrics (page visits, for example). Most folks in Denver have some connection to Photobucket through a friend-of-a-friend and people love swapping stories about how great and down-to-earth the guys are regardless of the amazing success of their company.

Category: 
People Involved: 
Location: 

How can I get my wife/husband to...

Taxonomy upgrade extras: 

Economist Dan Ariely has an interesting post on what boyfriends/girlfriends are searching for.

I thought - what about the husbands and wives of the world?

Apparently:

  • most folks are looking to get in love again
  • husbands are looking to steal facebook passwords (two words: keystroke logger)
  • husbands are also looking to get their wife to fall in love at all, whether or not it is again

French Grandmother's Style Chicken Ragout

This hearty ragout is perfect for a cold fall or winter day, and delicious served over mashed potatoes.

Chicken Ragout Ingredients

  • 4 boneless, skinless chicken breast halves, cut into 1 inch cubes
  • 1/4 cup all purpose flour
  • Kosher salt and black pepper to taste
  • 2 tbsp unsalted butter
  • 1/3 cup smoked bacon, thickly sliced and diced 1/2 inch wide
  • 1/4 pounds brown or white button mushrooms, quartered
  • 1 cup pearl onions, whole and peeled
  • 1/2 cup dry white wine
  • 1/2 tsp fresh thyme leaves or substitute 1/8 tsp dried
  • 1.5 cups chicken or beef broth
  • 1 tbsp unsalted butter, chilled

Chicken Ragout Instructions

  1. Combine the flour with the salt and pepper to season. Add the chicken to the flour and toss to coat. Shake off the excess and set aside.
  2. Heat a pan large enough to hold all the ingredients over medium high heat. When the pan is hot add the butter and when the butter has melted and is foaming add the chicken cubes. Brown the chicken on all sides, reducing the heat if the bottom of the pan starts to brown too quickly (which should take 4-6 minutes).
  3. Remove the chicken with a slotted spoon and hold in a warm place. Pour off all the excess grease and add the bacon. Cook until the bacon has rendered some of its fat and is starting to crisp. Add the mushrooms and onions and toss to coat with the bacon fat. Cook until the mushrooms are a light golden brown and the onions have started to color.
  4. Deglaze the pan with the white wine and cook over high heat until the wine is completely reduced, scraping the bottom of the pan with a wooden spoon.
Category: 
People Involved: 

The real Google Phone (Nexus One) - for sale January 2010 (Hat tip: anonymous at Hubdub)

I'm always curious about technology products and product launches, but an interesting thing happened recently with the launch of the latest Google Phone (i.e. the Nexus One).

Release date prediction market on Hubdub

I created a Google Nexus One Release Date market on Hubdub. Hubdub is a play-money prediction market system, a wisdom-of-the-crowds tool to help gather ideas about the outcome of a specific event. The market was created on December 15th and almost immediately it was showing a 94% likelihood of release in the first quarter of 2010.

Hubdub lets people make predictions on a question and when they do so they choose whether that prediction will be public or private. In the case of this market there is currently over $18,000 of play-money at stake and just over $3,300 of those positions are public. So 80% of the play-money is hidden, but the effect of those positions is totally public. While hiding their identity is possible the world still can quite easily see the sentiments of the people involved: early 2010!

People Involved: 
timeline: 

Pages

Subscribe to Knaddison.com RSS