Making Your Product LOOK Premium Allows You To Charge More ! | Small Business #Marketing Tips

What makes a product a premium product? For an effective premium product pricing strategy, customer expectations need to exceed whatever dimension is being used as measurement. A product needs to justify its premium pricing, not just in terms of function, features, or form, but it should also exceed expectations in terms of all of those imperceptible details that together elevate a premium-tier product to a level determined as justifiable. What kind of details? Details like starched napkins. Say what? Let me explain. Part of the theatre when eating at a fine dining restaurant are the crisp white starched napkins you find at every table, or how each glass has been polished to within an inch of its life, how the cutlery is positioned just so, and the menus have been freshly printed on quality paper stock. Now, does all of this attention to detail make the food taste better? Of course not. But when you're paying for a fine dining experience, it's what customers expect. When selling premium-priced products, small details matter. They reassure your customer that they've made the right choice. The price is aligned with the value delivered. It helps reinforce the notion that your brand is a premium brand. A premium product includes your marketing strategy, your branding, and of course your customer service. But it's also about the quality of your advertising. How your website looks, and how someone answers the phone. It's about being on time to meetings, the choice of typeface in your PowerPoint deck, and the last time your delivery van was washed. Sure, these are all details that don't directly influence the quality of your product offering. Except, of course, they do.