Seth’s blog is the only one I read every day. He talks about a variety of topics, always with insight. His short blog this morning, although not directly about pricing, is almost identical to the concept of Will I? and Which one? Here is the entirety of Seth’s short blog:
This or that vs. yes or no
It’s much easier to persuade a philanthropist to fund your project than it is to persuade a rich person to become a philanthropist.
Encouraging someone to shift slightly, to pick this instead of that, is a totally different endeavor than working to turn a no into a yes, to change an entire pattern of behavior.
When looking to grow, start with people who already believe that they have a problem you can help them solve.
Turning a no into a yes, also known as convincing someone to answer yes to “Will I?” takes a lot of work. If you’re going to use price to turn no to yes, it will take a large price decrease. However, getting someone to pick your product instead of your competitors, also known as the “Which one?” decision, is much easier and can often be accomplished with smaller price discounts. What decision are you trying to convince your market to make?