Price Elasticity Can Work: Dropping Ebook Price To $1 Catapulted Year-Old Book Onto NYT Best Seller List
from the look-at-that dept
Of course, anyone who's followed Gabe Newell at Valve knows all about how price elasticity works. Dropping your price significantly doesn't always mean a decrease in revenues or profits -- and can actually mean an increase due to significantly greater volume. So, again, this isn't revolutionary, but it's still quite amazing how resistant so many publishing companies are to this idea that selling for less might actually be a good idea. For all the talk about "devaluing the book," who is actually going to complain if lower prices bring in both more readers and more money?