Book 2 of 4 · Pricing psychology
Your Price Is Wrong
How to Raise Your Prices Without Losing Customers: The Small Business Guide to Value, Class, and Pricing Psychology
Your Price Is Wrong is Eugene Kim's formula-driven guide to pricing for small businesses. Its core idea is Price = Value + Class: raise the benefits, lower the customer's costs, add class, and you can raise your price without losing the customers who matter.
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Customers don't leave because your price is high. They leave because your price gives them no reason to pay it.
About the book
You work harder than anyone on your street. So why is there so little left at the end of the month? Maybe it isn't your food, your service, or your location. Maybe it's your price.
Most small business owners set prices by looking over their shoulder: match the shop next door, knock off a little, end it in 9, and hope. Then costs rise, and they're too afraid to raise prices because they think customers will walk out. Eugene Kim says that fear is backward. Customers don't leave because a price is high. They leave because a price gives them no reason to pay it.
Your Price Is Wrong is a practical, formula-driven guide to charging what your business is worth. It starts with one idea hidden in the Korean word for price, 價格: Price = Value + Class. Every chapter is built from real cases: restaurants, butcher shops, salons, gyms, a supermarket selling eggs below cost, and a set menu that sells fried rice for 100 won.
The examples come from South Korea, and the principles work anywhere customers compare prices. KICK! worksheets throughout help you apply each idea to your own shop.
Who it's for
Small business owners who set prices by copying the shop next door, and anyone running a restaurant, butcher shop, salon, gym, or shop who is afraid to raise prices when costs rise.
Key takeaways
- Competing on “bang for the buck” is a losing strategy. The book shows what to claim instead.
- CLASS gives five ways to raise your business's class, starting today.
- Customers carry “price genes” in their heads, and an owner can modify them. Scarcity, anchoring, and the decoy effect are tools you can use tomorrow.
- Giving one more item often beats a discount, and some things are worth giving away for nothing.
- The Needs-Wants Graph and the Profit Equation give a step-by-step method for deciding exactly how much to raise prices.
Formats and details
Paperback
- ISBN
- 979-11-23021-28-7
- Pages
- 272
- Trim
- 6 × 9 in
- US price
- $19.99
- Publication date
Kindle ebook
- ISBN
- None (Amazon assigns an ASIN)
- US price
- $9.99
Edition
- Language
- English
- Publisher
- Doseodam
- Translated from
- 《당신의 가격은 틀렸습니다》 (Doseodam, 2021)
- Korean ISBN
- 979-11-974263-7-7
Frequently asked questions
What is Your Price Is Wrong about?
Your Price Is Wrong is Eugene Kim's formula-driven guide to pricing for small businesses. Its core idea is Price = Value + Class: raise the benefits, lower the customer's costs, add class, and you can raise your price without losing the customers who matter.
Who wrote Your Price Is Wrong?
Your Price Is Wrong was written by Eugene Kim (김유진), Korean restaurant business consultant and founder of KYJ Academy. His books have sold more than 300,000 copies worldwide, and more than 4,800 founders and owners have trained at KYJ Academy.
Who is Your Price Is Wrong for?
Small business owners who set prices by copying the shop next door, and anyone running a restaurant, butcher shop, salon, gym, or shop who is afraid to raise prices when costs rise.
Do the Korean examples apply outside Korea?
The examples come from South Korea, and the principles work anywhere customers compare prices. KICK! worksheets throughout help you apply each idea to your own shop.
Is this book a translation?
Yes. Your Price Is Wrong is the English edition of 《당신의 가격은 틀렸습니다》 (Doseodam, 2021). The Korean edition's ISBN is 979-11-974263-7-7. The English edition is published by Doseodam.
What formats are available, and what do they cost?
Your Price Is Wrong is available as a Kindle ebook (US $9.99) and as a 272-page paperback (US $19.99, ISBN 979-11-23021-28-7). The paperback publication date is October 31, 2026.
