Do you know why people buy your product or service? There can only be two reasons, either it makes them feel good or it helps them to solve a problem. It can be argued that some products do both, ether individually or both at the same time.
The feel-good factor is an intangible property and is very subjective – what may make you feel good, may leave me uninterested. It can be a tricky sell or an easy sell, depending on how you feel about the product.
Work out what your product/service is worth to your customers in your competitive environment!
On the other hand if you provide a solution to a problem, you can always put a price on it, not any price, but the optimal price for your product or service. Solutions in this context come in two forms, the chance to make a gain or the avoidance of damage and loss.
If you look at the value of the product to your clients and compare your products to your competition, you will arrive at the optimum price to sell – that is “Dollarization”! It will help you to make a sale by making informed pricing decisions and being able to communicate those to the potential buyer – it will remove much of the subjectivity from the sales process.
What are your products/services worth and how would you tell me?