Value for the buyer

There is a price the seller wants. And then there is a price the buyer is willing to pay.

No matter how much you hype your product or service, and no matter how much you think your product or service is worth, the real test is in the market.

While people understand there is a price for everything, they also understand how much price is enough. No matter how creative is your marketing campaign and the Public Relations Officer, the initial sales would fade away soon if you haven’t priced your product well.

Saying this, I don’t say you can’t price your product high. All I am saying is your high price need to be backed by a higher level of quality. There needs to be an extra value left for the buyer, even after he has paid the full price for your product. He should feel that if the product would have been a tad more expensive, he would have still bought it and that what he has got is the value, even if your product is the most expensive in the market.

Does your product or service leave some value for the buyer?

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