Beauty is in the eye of the beholder. And, Ronn Torossian points out, so is value. And this principle extends well past monetary value. Everything in limited supply has value. Even if that value is temporary or transitory. The relative nature of value must be taken into consideration in order to craft an impactful product marketing campaign.<\/p>\n
Perceived Value<\/p>\n
Who is my target, and how desperately do they want or need what I have to offer? Answering this question takes the topic of value to a whole other level.<\/p>\n
Remember the pet rock? What about designer clothes that were popular ten or twenty years ago? You might find one at a garage sale and the other at a thrift store. What sold at mall prices a decade ago is not worth less than half what someone gladly paid for it back then. Why? Because of the perceived value. That pair of jeans may still be in great condition. In fact, that pair of jeans may be brand new, but if it has the wrong label on it or you find it at the \u201cwrong\u201d store, you won\u2019t pay retail.<\/p>\n
While they mean different things to different people, time and convenience have a definitive, tangible worth. This can be factored into establishing the value of a product or defining the worth of a service. To correctly ascertain the proper value, the time vs. income and enjoyment vs. labor components need to be considered. For example, a person may have lots of time but less income. They don\u2019t mind searching for deals in that case. However, if a person has little time, you would do well to offer them time-saving conveniences.<\/p>\n