How to Build a High Level of Perceived Value to Dominate Your Marketplace (Aug 2018)

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“Perceived value” doesn’t always align with actual value. For example, you might have the greatest product in the history of the world – a product that can make all of your customer’s dreams come true. This product has an extremely high actual value. But if the product looks lousy and if it’s presented in a way that makes it look like junk, then its perceived value is going to be terrible. Conversely, you might have a lousy product that doesn’t offer any actual value whatsoever, but it looks nice. It sounds nice. It has the appearance of being something truly special. And so, it has a high perceived value.

Ideally, you want a terrific product with high actual value as well as high perceived value. Here’s why: The perceived value is going to sell your product for you. The higher the perceived value, the more you can charge or the easier it is to sell, or a combination of the two. The actual value is going to please your customers, uphold your reputation and keep your customers coming back to you for more, rather than demanding your head on a stick and a swift refund.