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old player VS new player
Imagine you're looking to buy an app and you have to choose between:
Product A: It's been around forever, costs about €10 a month. Honestly, it's a bit clunky and not the prettiest to use, but it's got name recognition.
Product B: It's the new kid on the block, asking for €15 a month. Not a lot of buzz around it yet, but all reviews are great. Great UX and is super simple to use.
Now, if we're talking a small price gap (like the €10 to €15 here), do you find yourself digging deep into reviews and comparisons, or do you lean towards the familiar face, even though it's not perfect?
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Ugine UX
Most of the time I would pick product B. Great UX&CX is key
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I will choose a product that will be convenient for me even if it costs more.
It you have control of the price I think this is backwards, the new product should start off costing less, then increase in price as it's dominance expands.
Unless you can knock a value prop out of the park, but that's additional friction/pressure.
I'm also a little surprised that you think a 50% added price is a small difference, any price difference over 12% of the comparison is significant.