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98: The 'No Anchor' Pattern
The 'No Anchor' Pattern
Episode 98 covers the third of four pricing traps, No Anchor. The maker in this trap has no reference point for their price, so the number can't be defended, adjusted, or judged too high or too low. Virginia explains the two numbers every price needs: what it costs to make the item, and what someone will pay for that kind of item.
Three personalities live in this trap. The Guesser picks a number with nothing behind it, and Virginia separates the beginner who is guessing for now from the maker who keeps guessing after years of selling. She walks through how she…
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