If You’re Not Unique Why Do You Exist?

Solving a customer problem is only part of what makes a product marketable. There’s another part of this – and that’s the question of if others already do this, why should people switch to you?

Let’s face it – there are a lot of products and services in the world, with many of them tackling the same problems. If you’re starting a new company or launching a new product, there is probably someone out there already doing the same thing. Their product might be somewhat different from you, but at its core it might be very similar. So why should people use your product?
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The Importance of Framing in Price and Value Proposition

One of the most important things for any marketer (or anyone with an “offer” for that matter) is to consider just how the value of their product is perceived by a potential consumer.

When we’re selling a product, price is always a question – and the way we price our products and services is a combination of the cost of what it took to produce it, along with a perceived value. That perceived value in many instances, such as to “commodity” type products (items available through multiple retailers, like Nike shoes or Pampers diapers) price is usually mostly perceived as in relation to other products in the category, and we price as such. Of course we can work on our value proposition to try to allow for some price differences through features and benefits (an organic cotton diaper obviously has a different value proposition than Pampers, for example).

This concept is often referred to as “framing” – how the price of your offer is presented, in particular in relation to other options.

But when it comes to a specific, unique product or service that you offer, and we don’t have specific “competitive product” to price against, this becomes much more nebulous. And it’s in these instances that remaining conscious of our “framing” can be most important.
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