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    Adding Value on Products

    Posted by on 3/11/2017 to Advanced Business
    Adding Value on Products

    Add value on your products

    When consumers compare between similar options, some products seem to be more valuable than others. This happens because the actual or perceptional benefits are different on each product. Each comparable product has its own distinct set of valuable characteristics that are attractive for specific customer groups. But is there a way to add value on products without changing any or their attributes and what are the elements that are critical for the buying decision?

    To realize what makes the difference, we need think back on our own experiences concentrating on the last thought or the last phrase of the seller before every purchase. This tangible or intangible value is the critical attribute that triggers each sale. The physical features that are embedded within the product design like shape, color, materials, ingredients, packaging and others are more obvious and more difficult to change. Stating core characteristics based on rational criteria does not work in all cases, to make a product irresistible here and now we also need to cover emotional needs.

    Think of how many car sales has been closed on the need for security “yes but our brand offers 7 years free service and unlimited mileage warranty” or vanity “I want people to see me driving around with this breathtakingly beautiful car every day”. Warranties, money back promises along with reliability statistics and user reviews are classified as objective values but not everything has to be based on rationality and scientific proof. A clean and tidy shop and a smiling salesperson might be enough to add value on a retail product.

    In general, to increase the value of a product, try accommodating your sale proposition with additional services your target market appreciates. 

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