Can you massively increase perceived value or is it just American Hype?

A lot of people think that they need to massively increase the price of their product in order to make it more valuable, but that's not always true. There are a lot of ways that you can manipulate the perception of your product to make it more appealing and increase sales.

Norm Farrar, the host of the popular Amazon podcast, Lunch with Norm, joins Matt in this episode to unpack whether perceived value can really be increased significantly or is it just an American Hype?

ABOUT NORM

Entrepreneur and businessman Norman “The Beard Guy” Farrar stands at the forefront of the economic mega-machine known as Amazon Marketplace. As a leading expert with over 25 years of product sourcing, development, and branding expertise, Norm is an advisor to many and is the host of the podcast Lunch With Norm, a Live Interactive Podcast For All Entrepreneurs

Throughout his career, Norm has sold over 100 million dollars in sales between his own products and services and the opportunities he has brokered for clients. Today, in addition to running a diverse catalog of companies including AMZ Club and PRReach (The world’s first video press release company), and he focuses on guiding individual sellers, brands, and manufacturers to worldwide dominance on Amazon, Amazon Podcast, and top-earning sales sites.

Here’s a summary of the great stuff that we cover in this show:

• Perceived Value is the customers' evaluation of the merits of a product or service, and its ability to meet their needs and expectations, especially in comparison with its peers. It is the overall customer experience from the second that they're typing what they're looking for into a search field.
• With any business venture, you need to have the resilience and become the authority figure to really succeed and grow. But you also need to build your brand’s perceived value so that people want to keep coming back to your brand and your products.
• It begins with competitor research and finding out what you can do to make your product stand out and what makes your product more value adding for the customer every single time and just doing it consistently.

For complete show notes, transcript and links to our guest, check out our website: www.ecommerce-podcast.com.