Lenzy's Business Blog

Lenzy Ruffin is a family portrait photographer in Washington, DC. This blog focuses on topics related to running a business of any type, including a photography business.

What Tater Tots Can Teach You About Pricing Your Products and Services

Tater tots (created in the 1950s) originally didn't sell because they were priced too low, so people didn't think they had value.

So they raised the price. The rest is history.

This is a well-established truth of the psychology of pricing. 

If you price yourself as the Dollar Store option because you think being the cheapest is the way to get customers, you may want to rethink that strategy.

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