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The 8 Marketing
Principles
You MUST Know
To Make Your Business Soar - Part 5
by Michael Ross, author,
direct marketer and consultant
"A
real decision is measured by the fact that you've taken a
new action.
If there's no action, you
haven't truly decided."
This continues on with
marketing priciple number 2 - Give your customers their 5
basic wants.
Customer Want No. 3. Give
Your Customers Value For Money.
Value is simply giving your
customers more than they paid for.
The value might be real or
perceived, it doesn't matter which, just as long as your
customers get the feeling they are getting more for their
money. Have a look at this example.
E.g. Most music is now bought
on CD rather than tape, even though the CD is more expensive.
Yet the duplication costs are very cheap, and very close
together in price. But perhaps what's even more interesting is
that the retail price doesn't differ by the same amount as the
production costs do. But everyone is willing to pay more for
the CD because we perceive it to be worth more, and of better
quality.
Value and quality often go
hand in hand
When you make your product
appear more valuable you can ask a higher price for it. But
keeping the price the same will result in more sales because
your customers think they are getting more for their money.
Just look at the modern car.
Now when you buy a car you get - power everything, air
conditioning, airbags, tinted windows, headlight protectors,
even colored stripes down the side. By having all these extras
the manufacturer can justify asking a higher price. They
simply dress the car up to appear more valuable and customers
buy.
You should do the same.
Make your products appear to
have more value, and to be
worth more than you are asking for them, and you
will increase your sales.
You'll make a lot more money
because the cost of the extra item will be consumed within the
extra profits you are making. You might even like to charge
more when you add the extra item to cover your increased
costs.
Why don't you try it. You'll
see that . . .
making your products appear
more valuable, and worth more, will increase sales
Try this, it works!
May the success you achieve
be a direct result of the effort you put in!!
Michael Ross
Miros Designs Marketing.
About this author
Michael Ross is an australian
based author, product developer, direct marketer and
consultant.
Michael Ross is known for his
detailed and helpful advice on how to succeed in marketing.
Note:
Michael Ross' original web site is closed. I don't know if
it's permanently or temporily. Michael Ross recently told me
that he has more or less retired from the Internet. I'm sorry
for any inconvenience that this may cause you.
You can, however, still buy a
copy of Micael's book, "The Art of Leverage" by
going to this web site: http://artofleverage.cjb.net/
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