Hold up! I am not about to tell you that the value of your product would influence your price and so make your products high on value. You don’t deserve to have this repeated to you again. There is a renewed focus on what interactions exist between price and value and that has huge potentials of enforcing customer satisfaction. It is an ancient rule nevertheless, tried, tested and proven to be the sole rule for showing you respect your customer’s trust in your enterprise.
Value, if it means anything at all, should definitely revolve around what worth your customers attach toyour products and services. You should have a projection of what expectations your customers have of your services in order to meet their expectations and it is that knowledge that should among others, influence your pricing of the service. You definitely would not expect your customers to pay so much for crap and nonsense. A fundamental principle here is to make yourself a customer and question the will with which you would buy the very service you have offered for sale. If you cannot expend resources to buy what you are yourself offering for sale, then call off that whack product and save your image and your brand.
Essentially, it is established – there really is no new relationship or theory that can reveal the relationship between price and value. What you know already really is what you should still commit to. This cannot be overemphasized any further. Your customers would always equate value to price and vice versa. There are no shortcuts, compromises, negotiations or turning around this basic truth. If you cannot meet the expectations of your customers with your product, you may as well not even offer it for free.
Put all efforts to ensuring your products and services are high on value. Know a better rule? (silence) I didn’t think so either. Give your customers value for money. You would definitely be pleased you did. Talk to us today for more solutions. Click here
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