Expensive is Double-edged
At times, the asking price is the only barrier between a prospect’s wallet and the entrepreneur’s bank account.
When a prospect that was astonished by a product ends up not buying the product solely because they think it’s expensive; their definition of and what lies at the core of their “expensive” determines who is to blame for the lost sale.
If it’s “
expensive” because they can’t afford it; it’s the prospect’s problem.
If they can afford it but perceive it as exorbitant, it’s the entrepreneur’s problem.
The entrepreneur needs to either decrease the asking price, or increase their product or service’s perceived value.
The former needs a calculator, the latter requires a remarkable marketer.
(Entrepreneurs who suffer from the curse of instant gratification, people who unknowingly erode their brand equity in the name of short-term returns, opt for the former.)
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— August 20, 2010.