To ensure that your product is distinctly different and superior—and justifies a slightly higher price—it is essential that it carries a meaning that speaks to the reptilian brain. The latter must symbolically associate it with the most primitive codes of existence, such as caring for the tribe, territoriality, happiness, power, or transcendence.
It is highly uninspiring to sell a product without knowing what it essentially means to the brain; this is part of the mediocrity born of complacency. Do you want to control your buyer's mind while having no idea of the fundamental meaning of what you are trying to sell? That is fundamentally inconsistent.
DO NOT CONFUSE PRICE WITH VALUE
It is all about the perception of value, not just the price, and this must be in your hands as a smart seller. You must make the prospect and potential client understand that your service or product inherently warrants a much higher cost than what your competitor is offering. Yet, you are charging them only slightly more for something highly valuable and vastly superior due to all the additional benefits they will receive—in other words, it is not a generic commodity.
If you still believe that clients buy solely based on the most attractive price, your sales approach is flawed. The client is not necessarily looking for the most captivating price, but rather the most appealing and beneficial product. Therefore, while price is important, it becomes secondary.
HIGHER PRICED, BUT WITHIN REASON
You must set the right prices intelligently, maintaining congruence among the value you have added, the perceived value you expect from the prospect, and the amount of money the potential buyer would be willing to pay. A premium of five, ten, or a maximum of fifteen percent over your competitor's product price would be prudent. If the premium is too high, you will be the one most penalized, as you will not receive a single dollar from that prospect.
