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Quote from: Alpha Marine on June 04, 2025, 09:46:11 PM
These days, packaging and advertising play a bigger role in the price of a commodity. It leans towards the "value-based" you mentioned, but most times, the product doesn't have more value than the other, but is priced higher than the other because of the way it was advertised and packaged.

You can see that certain goods or services sold for $20 somewhere can be sold for $100 in another place. It happens with clothes, shoes and even food in different restaurants. One doesn't have more value than the other; they're both the same, but the illusion of more value is in the presentation (packaging) and advertising.

ThatIt is true, it is how you strategize to market a certain product. It can really be cheap but you can sell it more to others. But you need to "re-package" per se. This means, marketing. When you are in a business, you should know how to do such strategy as it can help you grow your business. This is why, it is not only about the education that you attained that can assure the success of the business but it is how you manage and operate the business. Experience will also teach you a lot of things on how to operate and maintain a certain business, however, more knowledge about your craft will go a long way when it comes to business growth and success.
Original archived Re: Pricing strategies
Scraped on 04/06/2025, 22:48:00 UTC
Quote from: Alpha Marine on June 04, 2025, 09:46:11 PM
These days, packaging and advertising play a bigger role in the price of a commodity. It leans towards the "value-based" you mentioned, but most times, the product doesn't have more value than the other, but is priced higher than the other because of the way it was advertised and packaged.

You can see that certain goods or services sold for $20 somewhere can be sold for $100 in another place. It happens with clothes, shoes and even food in different restaurants. One doesn't have more value than the other; they're both the same, but the illusion of more value is in the presentation (packaging) and advertising.

That is true, it is how you strategize to market a certain product. It can really be cheap but you can sell it more to others. But you need to "re-package" per se. This means, marketing.