Increasing the value of the product
Assemble the goods beautifully
A beautifully wrapped purchase is perceived in a completely different way, so if the cost of the product is the same, the user will choose brightly colored packaging.
By the way, it is necessary not only for offline sales, but also on electronic platforms.
Loyalty programs for regular customers
Using various loyalty programs twitter database for those who buy regularly, with the opportunity to pay less for the goods, increases the value of the goods. For example, buying goods for children at a discount, which are needed almost every day, or car accessories will be a significant advantage.
Useful content that solves the user's problem
The effort involved in choosing a product is an expense that devalues the product. For example, a customer needs a hammer drill, but doesn't know which one to choose from a variety of brands and features. Useful content can help the customer decide, from which they can learn everything they are interested in.
Offer more than the buyer expects
The value of the product is also affected by pleasant bonuses when buying. This could be a gift in the form of an e-book when buying a regular one, or a set of branded caps for car wheels when buying a compressor, etc.
Marketing techniques to increase product value
The customer is not so much interested in the cost of the product itself as in the value he can get for the stated price. The benefit in this case will be the difference between them. Since the manufacturer does not have the opportunity to constantly reduce the cost of the product, the reverse method begins to work, designed to increase the value.
The main ways to increase the value of a product
Advantages
The buyer selects a product based on knowledge of its special qualities. In this case, it is extremely important for the manufacturer to know which of them is a priority advantage and try to improve it as much as possible. If we consider household appliances, then most often it is their design. If a store offers two kettles with the same characteristics, then the customer will choose the one with a better appearance.
Emotions
Experiences play a big role in the life of every person. The value of a product depends on how emotionally the buyer perceives it. An example of such influence is advertising baby food, which says that it does not contain palm oil. But it is also absent from other brands. Thus, the manufacturer plays on emotions.
Price
This method of increasing the value of a product is based on the established stereotype that the higher the cost, the better the quality. As an example, we can cite a real story from a jewelry store that could not sell a collection of jewelry with turquoise. Then the owner ordered over the phone to reduce the price by half. Due to a bad connection, the seller did not hear and did not reduce, but doubled the price. The entire collection was sold in two days.
When using price, you need to know your target audience, their preferences and solvency. This method does not work if the company is in the mass-market segment and its regular customers have low income.
Story
All people love fairy tales since childhood. They have an emotional impact on a person. This increases the value of the product, and accordingly, a high price can be set for such a product. A competent marketer will definitely apply this factor in his work and come up with an interesting story. It is necessary to collect consumer feedback on the sold goods or services, from which an exciting quest can be put together.
Rumors
Gypsy radio, which is a type of word of mouth, is a great tool for creating a product image. This method is also called guerrilla marketing. Its essence is that some people are paid to transmit supposedly confidential information about a product/service. And then a chain reaction occurs, and the information spreads very quickly.
By the time the product appears in the store, the excitement is so high that the sales process is almost instantaneous. Another option for creating an information bomb is a public refutation of rumors. In this case, most buyers will want to personally verify that the information they have is not true, and the real properties of the product are completely different.