Sometimes Price Creates Value In Your Customer’s Mind

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How much is something worth? What’s it’s value?

Sometimes, it’s not the quality of the product, or even the features, or the functions. Sometimes, it’s the price.

The price you set for your services triggers a subconscious message in your customer’s mind. If your prices are far lower than your competitors, your services can be looked at as inferior to those who charge much higher prices than normal.

Try it for yourself – which truck is better:

The $30,000 GMC Yukon, the $60,000 GMC Yukon Denali, or the $90,000 Cadillac Escalade?

Functionally, the basic Yukon and high-end Escalade are essentially the same truck. Yes, the Escalade has more features, but $60,000 more than the basic Yukon?

Sometimes, people feel better paying a higher price for a service, because – if it’s more expensive, it has to be good.

 

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