With the ailing economy of today, customers will always look for products that have the best price. However, you can’t give a price that is not enough to cover the cost and maintains profit margin. The only way is to design and promote better products, meaning products that are perceived to have the best value. Value would mean good quality at a fair price.
When a customer went to a store, they calculate that value of a product. They will look for the benefits they can get as against the cost they have to pay. If they perceived that the acne treatment for example they see on the shelves offers them clearer skin, then you find yourself a deal regardless the price.
Consumers will always buy the benefits. However, it is also important to find a way to communicate the message across the target market. Success of the product doesn’t rely solely on pricing, it is a combination of good advertising and price.
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