Value determines price

Author: Jiang Bo-wen
Publisher:
Publish Date: 2004-05-01
Features: As American marketing consultant Sylvia Ross once said, "A successful salesperson usually doesn't sell the product itself, but the value of the product." Indeed, in this era where everyone hopes to buy products that are worth more than the price, if you understand how to manage the value of the product, then even if you're selling an "egg," you can sell it for the price of a "diamond." Price is not only a symbol of a product's value but also an "indicator" of its quality. Consumers often have the mindset of "you get what you pay for," and they are willing to pay a higher price for products they trust. The level of price directly determines whether the business objectives can be achieved. Pricing can be said to be one of the most difficult aspects to control in marketing, because consumer psychology is extremely unpredictable—setting the price too low or too high could both lead to disastrous failures.