Understanding the Value of Price
January 29, 2018
OK, that a generalisation and there is a place for piling it high and selling it cheap. But generally speaking, people don’t buy on price alone. They also need to trust a brand. For example, if you buy some glue to make a repair, you expect the glue to work. So if you have to choose between a well-known brand and a cheaper unknown brand. There is a risk with buying the cheaper on here. Trusting the brand is important in this situation. The higher price buys you more than a tube of glue. It buys trust as well.
It’s easy for a retailer or a freelancer to believe that the best way to succeed is to be cheap. But just about every important brand (and every successful freelancer) didn’t get that way by being the cheapest. They offered more than low prices. Low prices will always be beaten by a competitor with lower overheads .. maybe from another country or with better technology.
How useful was this post?
Click on a star to rate it!
We are sorry that this post was not useful for you!
Let us improve this post!
Thanks for your feedback!