What people really want is a bargain, not a low price. A bargain is what we get when the price we pay for something is less than the value we receive from it. Our customers will pay us more if they believe that we’ll deliver more than they expect.
We price shop because we’ve been conditioned to believe that there’s no value in the thing that seems the same but is more expensive. When we price our product or service to low there’s little margin or motivation to deliver higher quality. When we set prices high we often forget to offer more than our clients expect.
What people really want is more and better, not less and cheaper.
