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<blockquote data-quote="Browncoat" data-source="post: 12620" data-attributes="member: 1061">It has nothing to do with the economy.&nbsp; There are people out there paying a lot more money than this for their wedding photos.&nbsp; Right now, this very minute, someone is writing a fat check.Pricing...and this is a universal lesson in economics...is about perceived value.&nbsp; If what you have to offer is what I perceive to be a fair cost, then I will buy what you're selling.&nbsp; The trick with pricing is to appeal to a mass number of individual perceptions of value.&nbsp; Businesses must charge a fair price while still making a profit.&nbsp; Different people will abandon their general rule of value for different reasons such as:Convenience - The item costs more here, but I'm in a hurry.Dislike for others - I pay more at Store A because I don't like shopping at Store BLoyalty - It may be cheaper at Store C, but I've always shopped at Store APhotography is a service industry.&nbsp; Yes, we're offering a physical product that we manufacture so to speak, but it is still a service.&nbsp; Photographers as a whole have devalued themselves because they are trying to compete on price, not value.&nbsp; Most of us here know the difference between a pro photographer, and cousin Tim with &quot;one of them there fancy picture clickin' machines&quot;.&nbsp; Honestly, I think most consumers do too.&nbsp; But from what I've seen, read, and heard, there's a lot of pro photographers out there who take great photos...but are stupid when it comes to running a business.If pros continue to try and sell on price instead of service and value, they're going to go out of business.&nbsp; It's really that simple.</blockquote>

[QUOTE="Browncoat, post: 12620, member: 1061"] It has nothing to do with the economy. There are people out there paying a lot more money than this for their wedding photos. Right now, this very minute, someone is writing a fat check. Pricing...and this is a universal lesson in economics...is about perceived value. If what you have to offer is what I perceive to be a fair cost, then I will buy what you're selling. The trick with pricing is to appeal to a mass number of individual perceptions of value. Businesses must charge a fair price while still making a profit. Different people will abandon their general rule of value for different reasons such as: Convenience - The item costs more here, but I'm in a hurry. Dislike for others - I pay more at Store A because I don't like shopping at Store B Loyalty - It may be cheaper at Store C, but I've always shopped at Store A Photography is a service industry. Yes, we're offering a physical product that we manufacture so to speak, but it is still a service. Photographers as a whole have devalued themselves because they are trying to compete on price, not value. Most of us here know the difference between a pro photographer, and cousin Tim with "one of them there fancy picture clickin' machines". Honestly, I think most consumers do too. But from what I've seen, read, and heard, there's a lot of pro photographers out there who take great photos...but are stupid when it comes to running a business. If pros continue to try and sell on price instead of service and value, they're going to go out of business. It's really that simple. [/QUOTE]

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