What’s Price REALLY All About?
Monday, Sep 8, 2008 at 11:17 PM Marketing
My wife and I just returned from a nice day on the CT shoreline.
We have a casino nearby… Mohegan Sun.
Joyce, normally one of the most practical and frugal people going, always indulges herself by going into the Coach™ store at Mohegan Sun.
Why she finds a Coach™ bag so attractive and desirable is both amusing and amazing. She LOVES these bags! Sure, they’re nice, but the price of a Coach™ handbag is, relatively speaking, pretty high.
But these things are flying, literally, out of the store.
If the materials and workmanship, nice as they are, aren’t intrinsically enough to explain the price they sell for… what is?
The brand.
The Coach™ brand is the ‘difference’ that makes the world go round and the cash flow freely in these stores.
So what is the value of YOUR brand? Is the price your market perceives you’re worth reflecting the intrinsic value you offer or the ‘total’ value you offer because of… the brand called YOU?
Think about it. Preferably on your way to the bank! ‘-)
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July 24, 2009 at 7:53 PM
thanks !! very helpful post!