Pricing theory question
I offer an online service revolving generally around web design in a niche market. It's a new business, I have done no marketing and had no clients yet. So I have no quantifiable data - I'm just getting started. I offer two package levels, a "basic" and an "extended".
The basic package is a bit bare bones, but complete nonetheless (I know that sounds vague). It offers a service but the end product (a website) has limited content.
The extended package offers a more complete website: a lot more formatted content, some custom design, a richer, fuller end product. I want customers to select this option.
I have researched the competition and I believe I'm in the right ballpark, but my question revolves around specifically how to price the packages in relation to each other.
Let's say the basic package is offered at (hypothetical numbers here) $100.
How would I price the extended package? So far I have doubled it then subtracted a certain percent. So let's say, $175. My hunch is that this tells the customer ("Ok, it's not twice the cost, so I might as well spend the extra because you get a much richer end product.")
I want people to buy the extended package because it doesn't represent a whole lot more work for me, it gives them a better end product, and my revenue is greater.
I'm not a business person, I have no marketing experience. So I hope this makes sense, with enough detail.
Trying to learning about pricing theory. I have read about psychological pricing of ending the price in 9 or 5 - so I'm not talking about that.
Specifically about how to price two related products to entice the greater purchase.
Suggestions for further reading are also helpful, thank you.