Two stainless steel chronographs. Two global brands. Zero precious metals. One is called Expedition. The other, Explorer. Both tell time.
One has a Suggested Retail Price of $6,450.
The other: $32. (99% off...if you buy two!)
This is, of course, news to no one - least of which to the marketers of the respective brands above. Both are blissfully happy with the brand position they have carved out for themselves. One has high margins. The other scale. Both are quite profitable. Neither would ever consider serving the other's market.
Wondering how much to charge for your product? Don't let your costs guide you. Instead, try this: Swap out all your internal pricing calculations with your vision for your brand vis-à-vis your market. Charge accordingly.
The other: $32. (99% off...if you buy two!)
This is, of course, news to no one - least of which to the marketers of the respective brands above. Both are blissfully happy with the brand position they have carved out for themselves. One has high margins. The other scale. Both are quite profitable. Neither would ever consider serving the other's market.
Wondering how much to charge for your product? Don't let your costs guide you. Instead, try this: Swap out all your internal pricing calculations with your vision for your brand vis-à-vis your market. Charge accordingly.
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