DO YOU HAVE CONFIDENCE IN YOUR BRAND?
Brand Confidence helps in pricing your product.
Confidence does half the Job, It attracts Value from Audience.
Willingness to pay,
Willingness to accept.
Willingness to pay (WTP) is the maximum amount
a customer is willing to pay for your product or service.
Willingness to accept is the lowest possible price the seller
(you) can afford.
Reaching a happy medium between the two entities
must be done in order to make a sale.
Don’t Lower your Prices
Lowering your prices should be strategic ,
it could have a short term benefit but largely contribute
to long term suffering of your brand. Which is bad business
Lowering Prices won’t get more people to buy from you
Instead it gets more people to under value what you offer,
and it is very hard to increase the prices once you lower them.
It destroys your Brand.
Find or create an audience that is willing to pay your price.
You ought to tell people how to value you.
Remember a Brand is a Perception .
Your Audience’s perception on your brand determines their (WTP).
The customer determines the price based on perceived value.
DON’T SELL THE PRODUCT SELL THE VALUE