michaeledward
Grandmaster
As a guitar player, I was sometimes asked to play and sing at Weddings. Usually, the services being negotiated included singing one or two songs during the service, and attendance at the rehersal. Total involvement was, perhaps, two hours worth of my time, and a bit of travel.
I started at $50.00. Only startled looks at the price.
I moved to $75.00. No one even blinked.
I moved to $100.00. People kept booking me.
I moved to $125.00. I was just as busy.
I moved to $150.00. Some people interviewed me, but didn't hire me.
The 'right price', based on the imperical evidence, is $125.00.
That's the way it works in our society. When the cost gets too high, people stop buying. If there are buyers at $300.00, then the price is OK.
People value what they pay for; and you can bet that those paying $3600.00 a year for martial arts instruction value it highly. No doubt, it is a very different clientel, than what is observed entering the 60 dollar a month studio. The quality of the instruction may be no different, at all. But, were you to measure the satisfaction level of the students, I am certain the students paying more, would be of the opinion that they were receiving more; in fact, the students paying 60 dollars a month might think similarly.
Right now, I am at the limit of my value for martial arts. If my instructor were to increase his fees, I would be forced to consider my continued patronage.
Regardless .... people buy $100,000.00 automobiles? One wonders if that gets them where they are going any better than a car at one fifth of that price?
I started at $50.00. Only startled looks at the price.
I moved to $75.00. No one even blinked.
I moved to $100.00. People kept booking me.
I moved to $125.00. I was just as busy.
I moved to $150.00. Some people interviewed me, but didn't hire me.
The 'right price', based on the imperical evidence, is $125.00.
That's the way it works in our society. When the cost gets too high, people stop buying. If there are buyers at $300.00, then the price is OK.
People value what they pay for; and you can bet that those paying $3600.00 a year for martial arts instruction value it highly. No doubt, it is a very different clientel, than what is observed entering the 60 dollar a month studio. The quality of the instruction may be no different, at all. But, were you to measure the satisfaction level of the students, I am certain the students paying more, would be of the opinion that they were receiving more; in fact, the students paying 60 dollars a month might think similarly.
Right now, I am at the limit of my value for martial arts. If my instructor were to increase his fees, I would be forced to consider my continued patronage.
Regardless .... people buy $100,000.00 automobiles? One wonders if that gets them where they are going any better than a car at one fifth of that price?