With the economy in a down cycle, you’d think lower prices would be the driving force in the world of marketing. Not so. Jay Conrad Levinson, the Father of Guerrilla Marketing, says, “The amazing thing about marketing during tough times is that high prices help. Lower prices don’t help because people with high prices get to say, ‘During a rough economy the last thing you want to do is make mistakes with any money that you put out, and you can be assured by our price that you’re not going to make a mistake such as you would be if you went with a lower priced product or service.’”
That’s exactly why those in the craft beer industry seem to be thriving. Craft beer sales increased 12 percent nationally last year while sales of so-called mainstream beers are almost flat. Why? It seems to be part of a long-term trend in many products, where people are trading away from quantity and going up in perceived value.
Quality sells. We recommend you keep your prices high during these tough economic times. Stand behind your product, and deliver more than is expected. Not sure how to achieve your goals? Email info@boostyourbottomline.com today.
© 2008 BoostYourBottomLine.com
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We couldn't agree more. We have read numerous articles from professionals in our field that have said the exact same thing. We don't want people to come to us because we are the cheapest.We want them to seek us out because of our unique style, high quality products and excellent customer service. We have set our prices accordingly and it has worked. We have seen phenomenal business growth and are expanding into new markets.
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