If you’re gearing up to launch a product line in the near future, chances are you might have heard about perceived value. But do you really know what it means? When it comes to any business, this concept is at the core of success which is why many companies pour a lot of time, energy and money into it. The significance of perceived value for products comes down to whether your customer believes it will satisfy their desires and needs in the blink of a mere few seconds. That’s why the way in which you package and present your product is so important.
Read on to learn more about this fundamental concept and why your packaging really matters.
Standing Out from Your Competitors
No matter what product or service you offer, customers will make their decision based on the perceived value of what you are selling. This is why this concept is so important for any business – it gives customers a reason to choose you. In a matter of seconds, customers will judge the look of your product, and ultimately decide if it’s the right one for them.
Perceived value is also intrinsically linked to the value propositions of your business, which is what sets you apart from your competitors. This could include a certain ingredient used in your product, an innovative design, or even the packaging you use. Whether you’re launching a new line of luxury soaps, a fancy water bottle, or gourmet chocolates, your value propositions are those few unique features that will attract your ideal customer.
Clearly Communicate Your Value
Since perceived value is such a crucial part of any business, it’s important to be crystal clear on what your unique value proposition is, what the perceived value will be to your customer, and how best to showcase it. Knowing how to display your product the right way is fundamental for good, effective marketing as this is what will get your product noticed.
Appearances Matter to Customers
When it comes to appearances and business, the reality is that customers always judge a book by its cover. Whether it’s a restaurant, salon, hotel or otherwise, we analyze, critique and formulate our initial impressions instantly based on appearances. The same thing goes with products. If your product doesn’t look impressive or give a reason for your customer to maintain interest, they’ll keep on looking for one that does.
Understand Your Target Customer
To master your brand’s perceived value, you need to know who you’re selling your product to. Understanding your ideal customer will help you speak directly to them through your marketing tactics. Make sure you consider their demographic, income level, what they value, what they enjoy and desire, what their pain points are, and how your product can provide them with value.
When it comes to branding and marketing, it’s all about tapping into your customers’ emotions and connecting with them. The more you can understand them, the more successful you’ll be at getting their attention and their business.
How Ekan Concepts Can Help with Your Perceived Value
If you’re looking for a unique, polished and elegant way to showcase your products, we offer custom wooden packaging that’s guaranteed to put your best foot forward and help you stand out from your competitors.
Our tailored wooden boxes not only offer an eye-catching presentation, but they’re also a sustainable form of packaging, sourced from FSC certified wood. This can enhance your perceived value and your unique value propositions by tapping into a growing niche of customers that appreciate quality packaging while also being kinder to the environment.
To learn more about our wooden packaging and how we can customize it for your business and product, reach out to us today!