Mike was selling air purifiers for $1,000. He couldn’t sell many at that price, so he upped it to $2,000 and then he couldn’t keep them in stock.
The competition was selling for $2,000 so when he matched their price, the product seemed in the same league.
Interesting thing about pricing:
No one gets mad if you lower your price, but everyone goes nuts if you raise your price, so you may as well start with a high price early.