| |
| |
|
Branding Information |
|
|
|
Value-pricing Strategy: Were not The Cheapest but...
In this highly competitive online marketplace, it can be difficult to persuade customers to buy from you when you offer a similar product to your opposition but with a higher price tag. And trying to beat competitors on price alone is a cut-throat business, very risky and not recommended. It attracts bargain hunters ready to defect to competitors for a better deal. Using a value-pricing strategy is a better proposition because it attracts loyal customers. Why do customers buy designer-labelled clothes and luxury cars? Why are those items more expensive when they don't cost so much more to make? The answer lies in the perceived value. Value is not an inherent attribute of the product but it commands a higher price. Customers do not buy features and benefits, they buy VALUE. Value is subjective. Value is a benefit but a benefit is not necessarily of value to all customers. For example, a vendor offers free installation and free updates for his software. Customer-A considers "free installation" as "value"' because he has no technical knowledge and this will save him time and effort. Customer-B rates the free installation as "nice to have" but the drawcard or "value" is the free updates that will save him money in the long run. Customers do not assign value to the same benefits. Behind value-pricing strategies there are a few important concepts:
When customers evaluate competing products, they are usually comparing value. To increase the value of your products, you can either add benefits or reduce the perceived risk factors rather than resorting to reducing your price.
Adding benefits
Reducing perceived risks
Naturally, everyone loves value for money but does not necessarily want the cheapest option. What value do customers perceive in your product and how much are they willing to pay? Value comes at a price! Next time you consider reducing your selling price, think value. © 2005 Henriette Martel-Lawson Henriette Martel-Lawson, author of "200 Marketing Ideas for Your Website", is a website strategist who helps businesses develop or convert a stale website into an effective marketing tool. Henriette is the founder of Marketing Cues, an internet marketing resource centre providing articles, reviews, free tools and lots of tips. Receive a free ebook when you subscribe to bimonthly WEBmarketingcues newsletter at http://www.marketingcues.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Branding: You are the Brand What's in a brand name? Everything! Think of these brands: Coke, Barbie, Hershey, McDonalds, Madonna, Pepsi, Bono, Microsoft, Kleenex, Xerox, Steven Spielberg, Dell and GM. Did you notice that brands can be things, replicas of people and actual people? Brands are the public perception of a thing or person. What About Me? What You Need To Know About Me-Marketing What about me? Are you asking yourself this question? If not you should be. Don't wait until you are in crisis mode when you are losing your job or your business before you think "what about me?"Here are a few points to consider. Brand Strategy - Brand Identity Guru If you could have the secret recipe and all the manufacturing facilities of Coca Cola but not the Coca Cola brand-or have its famous brand but no facilities-which would you choose? It's not a trick question. But it demonstrates the power of the brand. Revealing the Roots: The Process of Building Brand How is branding different than marketing?Branding is not so much different from marketing as it is an element of marketing. We think of marketing as a tree; the brand is the roots, holding the tree in place and providing constant energy. The MOST Expensive Mistake You Can Make Most people who own a small business have a huge passion and talent for the product or service they provide. Some people have a business degree. Play Your Position! - The Only Way to Win in Business Have you ever watched 5-year-olds play soccer? It should be called "Follow the Ball," because that is what happens the entire game. The beginning of the game starts with players in assigned positions. All About Branding In this article i will explain how you can make your brand an succes.Corporate branding. Positioning and Branding - Brand Identity Guru Where is your brand positioned in the marketplace? How is it perceived, both positively and negatively? Can you identify your brand's core strength's and equities? What are the barriers or threats standing in the way? A brand strategy company will provide you with an objective assessment of your brand.They can deliver specific solutions that will allow you to reach your strategic business goals and objectives, and clearly differentiate your brand and identity in the marketplace. What is an Artists Statement & How Often Should It Be Updated? An artist's statement is a statement of ideas and thoughts that describe your philosophy, vision, and passion towards your artistic creations.Ponder over the following questions prior to writing your artist's statement:Is your work whimsical, thought provoking, or edgy?Does it portray a series of stories?Whom or what has influenced you the most?How is your work meaningful to you?How do you begin to write your artists statement? You could begin by writing a quote that has inspired you and your work, or you could create a strong sentence that summarizes your philosophy about your life and how art has changed your views on life in general. The Positioning of Success Many businesses of today are often driven to compete striclty on price, quality, and features of their products and services. Companies who prosper over the long term don't simply offer the best deals, the best quality, or the most impressive bells and whistles. Hummer is an Excellent Brand What size is your Hummer? Hummers Come in All Sizes; Tiny, small, medium and large and of course the most popular of all; The Oh My God Size. They make matchbox size Hummers, Tonka Toy size and adult size. A Lesson in Branding from Paris Hilton I have never been a fan of Paris Hilton.I see her parading around in her odd-looking clothing choices, leading her loyal following of giddy anorexic schoolgirls around by their noses, and I think, "Skank. Branding Your Products Is Important I was chatting with a couple of friends, all of us are either copy writers or graphic designers?or both?.in the advertising industry, so, naturally, our conversations leaned towards the topic. Importance of Business Branding Branding is very important to a business, whether it is an online or offline business. Your brand will be the first impression the public has of your business and could very well be the most important one. Getting Started in the Mail Order Business. How Much Does It Cost? INTRODUCTION To get any business started successfully takes many ingredients. All requirements fall into one of the following four key categories: 1. Profitable Partnering Become your customers top-of-mind choice.Some of these snapshots of real life SmartPartnership success stories can be adapted to help your kind of business (or non-profit or government agency) thrive?1. Living Your Brand on the Web - Part 2 Now that everyone has conformed to Living Your Brand on the Web, Part 1, it's time to add a couple of tweaks that will further reinforce your brand.Tweak #1: Your Signature FileA signature file is the simple text that, once activated is attached to your email automatically. Branding Mistakes - Brand Identity Guru 1. It "sells itself. Brand Your Name! Have you ever thought about branding your name? Does the idea sound too egotistical for you or does it make good business sense? Let's examine personal name branding and how it can help you achieve the recognition you need for your business and put you quickly on the path to success!Promptly upon receiving my layoff notice from my position of nearly eleven years, I decided I needed to venture out on my own. I formed a limited liability company and named the concern after my name. Id Buy That: Getting A Brand Mindset Feel that? The crisp tingle in the air? It's fall. Fall ushers in the promise of eating, seeing, and getting.
|
| Index | Site map |
| © 2009 VirBooks Home |
| PLAE | Solar System |
