You're picking good range pricing, I'd add to that in our experience odd numbered pricing - eg 79, 95, & 99 - outperform even numbers.
This seems to fit accross the board - meaning if you selected a price group to test of $10 / $20 / $50 as your first test, run a secondary test with your winner and even derivatives.
EG if you sell the most @ $20, try $19.95 / 19.97 / etc - you can squeeze suprisingly large gains out from that fine tooth testing.
We covered some of this a while back in our blog post on price elasticity testing w/some of our results too -
This seems to fit accross the board - meaning if you selected a price group to test of $10 / $20 / $50 as your first test, run a secondary test with your winner and even derivatives.
EG if you sell the most @ $20, try $19.95 / 19.97 / etc - you can squeeze suprisingly large gains out from that fine tooth testing.
We covered some of this a while back in our blog post on price elasticity testing w/some of our results too -
http://conversionvoodoo.com/blog/2010/06/one-simple-secret-f...