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when does the use-value of a product become evident?

Sagot :

angelaneedschou

Answer:

1. Product functionality is key

This one might seem obvious, the value of a product is the strongest driver of the value of a company. If you aren’t selling something that meets your customers’ needs, then your customers obviously won’t be willing to pay anything, let alone a premium price. On the other hand, if your product benefits relieve all of your customers’ headaches, then they’ll be willing to pay just about any amount you ask. In general, the more pain points you can solve with your product, the stickier your product. Remember to check your ego in the process. A product manager or marketer's favorite feature may not be your customers.

2. Prioritize customer relationships

The second most important driver of customer valuations is customer tastes and preferences. Remember when GI Joe and Barbie dolls were all the rage when you were young? Now think about how much you would pay for them today. The product remains fundamentally the same, but customers value the tiny fantasy figurines less today because the tastes in entertainment have matured.

3. Target customers by income

Surprisingly, you can influence the salary of your customers. Well, indirectly, and we don't mean by giving them discounts. Instead, adjust your customers’ income centers on either going upstream or downstream with your product. Countless products have come to market centered on one type of customer in a particular income bracket and quickly shifted to another.

4. Use price comparisons to your advantage

No matter your product, customers will always compare the price to something. Maybe there's a direct comparison, like the dozens of brand-name and generic cereals in a supermarket, or maybe there's an indirect one, like a salesperson comparing the cost of a revolutionary new software application to a similar type of purchase she's made in the past. Either way, a comparison occurs; the thought is human nature.

5. Give customers the urgency to purchase

Whether with plane tickets, groceries, or even clothing, we've all been in a situation where we've thought about just waiting one more week to see if prices go down. Of course, prices could go up, but unless we absolutely need the item, we're more inclined to take the risk. Your customers are doing the same thing, no matter the obscurity of what you're selling.

I hope it's helps

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