Increase Your Product's Price To Improve Its Quality

Increase Your Product’s Price To Improve Its Quality

February 1st, 2008 | by Chris |

It is true that the quality of a product is a relative thing and depends on the end user, the consumer. As such, it sounds plausible that you can influence the customer and change the perception it has for a product’s quality and the enjoyment he experiences from it. Various things can be applied to in order to do so and one of them is to change the price, which is scientifically established now by a recent study.

Researchers from Stanford University and California Institute of Technology run an experiment recently, trying to establish a price to quality perception relation. What they did was to use 20 people to whom they served differently priced red wines and asked them to rank their enjoyment they got from it. During the test, two of the wines were given twice, under different price tags, without the subjects knowing it.

What they found was that for the same wine served under two different price tags, they liked more the expensive one. And not only that, but by studying their brain activity, found that they had more of it in a part of the brain associated with pleasantness for odors, taste and music, when tasting it.

To come to multilevel marketing, many distributors are complaining that their products are more expensive than those from traditional businesses on the market. They blame the high price for not making sales and instead they concentrate their efforts on selling the opportunity that they believe it is the only thing which sells.

Well that excuse is no longer valid. The price doesn’t hurt the sales, on the contrary it can be an ally. The real problem is with their marketing efforts and how they present the product.

Technorati Tags: MLM Products, Marketing, Sales, Price, Product Quality, Perception, Multilevel Marketing