• Place three product cards on a table.
• Ask participants to individually think of a price they would be willing to pay for these three items. They write down each price on a sheet of paper.
• Poll the participants.
• Ask participants who said the lowest and highest prices: why would you be willing to pay that price?

Explain: we all have different preferences: someone who loves ice cream will be willing to pay more for quality ice cream. But someone who has very little money is not willing to pay much.

• Dig deeper: Ask participants what price they would sell the cone for if they were ice cream vendors.

1. What happens if you sell the ice cream at a high price?
2. What happens if you sell the ice cream at a very low price?

Explain: customers who are willing to pay a lot of money are not going to buy anything: for them, the ice cream is not of good quality if the price is so low.

• How do you sell to both types of customers? Show the "price" sign and ask what the differences are

Explain: You're selling two slightly different products. You have a commodity (ice cream) but for customers willing to pay more, you add value and sell for more.

Do you have any other examples of 2 product versions? Discuss real-life examples of products and prices.

Set your prices according to your customers' preferences.