Episode 41: Perceived Value
from JRP DAILY Hosted by Justin Phillips
Let's get to the point. Sometimes we pay too much money for things. Why? Because there are strategies out there that make you think you are receiving more value than you actually are for a product or service. 1. Premium Pricing: This is when companies jack up their prices just so that your brain tells you their product must use the best material, ingredients, etc. and that this product will last forever. It won't let you down 2. Collecting: Some products are made to be collectibles. Action figures, stuffed animals, toy skateboards, trading cards, you name it. You can find overpriced variations of all of the above, just because they are marketed as collectible items 3. Personal Branding: The reason that people will pay hundreds of dollars for someone's autograph. These are people that have somehow made a huge impact on their fans' lives and now every time they scribble a swirly line on a piece of paper and call it their "autograph", they make bank Listen in and get the full scoop on how all of this works. Oh, and here are those social handles that I know you are just dying to follow: Instagram: @justinrp56 Facebook: JUSTINRP (@justinrp56) Twitter: @JJustinrp
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