Back-to-the-Basics: Price Strategy

Today’s Back-to-the-Basics is great if you target the affluent market, but it does work with any market.

In Dan Kennedy’s book, No B.S. Marketing to the Affluent, Dan says:

“To de-link price from product, you must attach price to something else.”

What does that mean?

Well, how many people do you know go to the grocery store and complain about the prices of eggs or milk (which only cost a few dollars), but have no problem spending hundreds on a brand new phone.

Or, maybe you know someone who loves sports.  This person may complain about the price of a movie and the movie theater, but they have no problems shelling out tens of thousands of dollars to buy a party bus they can take to all the sporting events.

What happened here?  The price of the bus was de-linked and attached to the emotional appeal of the sporting events.  “Want to be the talk of the town and have friends flocking do you?  Be the life of the party and get a party bus to take to the football game!”

This is how small businesses can flourish even when their next to a Walmart who’s prices are much cheaper.  The small business de-links the price from the product and reattaches the price to something else… an emotional appeal, experience, etc.

So, are your customers and clients complaining about your prices?  Figure out what else you can attached the price to besides the product (or service).

Now go take action!

P.S. If you’d like to learn more about marketing to the affluent and de-linking price from product/service and reattaching it to something else then don’t forget to get your copy of Dan Kennedy’s book, No B.S. Marketing to the Affluent by Clicking Here.

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