If your product delivered more value than you thought customers were expecting, raise your price. But do it carefully, and in several steps. We've seen this happen many times. In the 1970s, Mercedes introduced a new SL car. The model sold out in a few months, and would-be customers were put on a waiting list of two years! Mercedes learned its mista

“We started to test the new Olay product at premium price points of $12.99 to $18.99 and got very different results at those price points.

“True, our rival’s product is cheaper, but here are all of the premium attributes that we offer,” or “Yes, our competitor does have several additional features, but are these attributes really worth the premium that it is charging?” Consider an established local electronics

The value of any product or service is the result of its ability to meet a customer’s priorities. Customer priorities are, in simple terms, the things that are so important to customers that they will pay a premium for them or, when they can’t get them, they will switch suppliers.