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Why did I choose little bakery over supermarket - perception! I perceived that quality would be better. But, who's to say that supermarket didn't have a product equally as good as, if not better than, little bakery.
So could it be that by focusing too much on price, we set up an expectation of a lack of quality in customers mind? And could it be that by focusing too much on price, we create impression that our service might be suspect? Absolutely!
Does it feel right?
It doesn't matter what you charge. It is customers' perception of your price that matters. If customer thinks price is too high in relation to value delivered for product or service, then they won't buy. If they think price is too low, then again they might not buy - because, they may be suspicious of quality in relation to price. The price may not feel right.
A customer perception of what is a 'reasonable price' is more important than what you want to charge for your product or service. And customer decides what's reasonable based on perceived value for money, not price. It's creating this perception of value that tells customer price is right.
I'm a firm believer that, in long term, it's always better to add perceived value to your product rather than reduce your prices.
Customers are smarter these days, have more disposable income and have more choice than ever before. The key to making sale is to communicate VALUE! Do it so strongly... that price seems reasonable in relation to product or service you're offering. © Noel Peebles. Market Leaders Limited. All Rights Reserved. http://www.instantsellbusiness.com http://www.instantsellhome.com
Noel Peebles offers you his FREE mini-course "17 Powerful Secrets That Have Made Business Owners Into Millionaires." 100% FREE! Simply send a blank email to: instantsellbusiness@ReportsNetwork.com