Ways of achieving added value
Building a brand – a reputation for
quality, value etc that customers are prepared to pay for. Nike trainers
sell for much more than Hi-tec, even though the production costs per pair are
probably pretty similar!
Delivering excellent service – high quality,
attentive personal service can make the difference between achieving a high
price or a medium one
Product features and benefits – for example,
additional functionality in different versions of software can enable a software
seller to charge higher prices; different models of motor vehicles are designed
to achieve the same effect.
Offering
convenience
– customers will often pay a little more for a product that they can have
straightaway, or which saves them time.
