Monday, April 21, 2014

"Value Is A Function Of Price"


In new home and real estate sales we talk to our customers about price, quality, and value - and we illustrate that with features and benefits. Nevertheless, value is extremely subjective. It is a function of price.

While we think we can give a consumer all of the reasons they should make a decision (based on why we think something is a good value or why our research demonstrates that it is), those reasons may seem hollow or like information dumping if they aren't looking for those features or it doesn't connect with them emotionally.

If something doesn't seem important to the consumer, they aren't as likely to want it - whatever it costs. If a home contains many of these great values or bargains (in our estimation or the opinions of others) but they don't register with the customer, they can't and won't justify a price above what the customer feels is justified.

Price has to make sense to the buyer.
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