What are some examples of products or services that are priced by value rather than by cost? - Quora
What are some examples of products or services that are priced by value rather than by cost? - Quora: Customers highly value and will pay more for products with these attributes:
Urgency - example ... Fedex "When it absolutely, positively has to be there overnight" or the 1hr photo processing being twice the price of the 24hour processing.
Self-esteem - example ... brand name bags like Prada and Louis Vuitton or products aligned with the latest fashion, the latest social cause or the latest tech. innovation.
Pain relief - example ... road side vehicle breakdown service like RACQ in Queensland Australia or the locksmith that opens the door for a person that has locked themselves out of their apartment at 11:00pm at night.
Fear mitigation - example ... the 'stock in trade' product for most legal services.�
Scarcity - example ... Hot chips or beer at the football where there is only one outlet selling inside the stadium and it would be too inconvenient to leave the stadium to find something cheaper.
Quality sounding name - example ... "Royal Reserve" in wine, "Gold Class" in movie tickets, "Platinum service" for online subscription or any product name that sounds expensive or luxurious.
High emotional experiences - example ... all wedding products, special anniversary products like 'top-end' restaurant meals, exotic travel or adrenalin-rush products.
One shots - example ... services relating to 'openings' or product/business launches like Mercedes latest car launch, this year's sport final, a one-off entertainer appearance, a famous band's last tour.
Vital small cogs - example ... ENZED rubber hose replacement on expensive machinery in Australia or any small vital product that maintains the operation or function of a larger more expensive machine or operation.
Sentimental value - example ... photos of your daughter's graduation or photos from a memorable cruise or any products that provide great sentimental value for the customer.
Indulgence - example ... a shop called 'Death by chocolate' that sells products that fully honor its name or a pampering day-spa for women.
Urgency - example ... Fedex "When it absolutely, positively has to be there overnight" or the 1hr photo processing being twice the price of the 24hour processing.
Self-esteem - example ... brand name bags like Prada and Louis Vuitton or products aligned with the latest fashion, the latest social cause or the latest tech. innovation.
Pain relief - example ... road side vehicle breakdown service like RACQ in Queensland Australia or the locksmith that opens the door for a person that has locked themselves out of their apartment at 11:00pm at night.
Fear mitigation - example ... the 'stock in trade' product for most legal services.�
Scarcity - example ... Hot chips or beer at the football where there is only one outlet selling inside the stadium and it would be too inconvenient to leave the stadium to find something cheaper.
Quality sounding name - example ... "Royal Reserve" in wine, "Gold Class" in movie tickets, "Platinum service" for online subscription or any product name that sounds expensive or luxurious.
High emotional experiences - example ... all wedding products, special anniversary products like 'top-end' restaurant meals, exotic travel or adrenalin-rush products.
One shots - example ... services relating to 'openings' or product/business launches like Mercedes latest car launch, this year's sport final, a one-off entertainer appearance, a famous band's last tour.
Vital small cogs - example ... ENZED rubber hose replacement on expensive machinery in Australia or any small vital product that maintains the operation or function of a larger more expensive machine or operation.
Sentimental value - example ... photos of your daughter's graduation or photos from a memorable cruise or any products that provide great sentimental value for the customer.
Indulgence - example ... a shop called 'Death by chocolate' that sells products that fully honor its name or a pampering day-spa for women.