The classic example of price VS perceived value is in the automobile business. You’ve all seen an ad from car dealers that sell “a dollar over invoice” or “at invoice” or “a dollar below invoice.” No value. Certainly no perceived value. What happens after I take ownership? How will I value from the “use” of my purchase? What kind of service can I expect?
I promise you that no one remembers the price at 7:00am when you are waiting in line at a car dealership for service, and you don’t get taken until 7:30, and the service person is somewhat rude, and they have no loaner cars so someone else has to drive there with you and take you to work, and when you get back at 5:00pm to pick up your car you wait another 20 minutes and come to find out they didn’t have the part for what was broken, and you have to come back again next week.
But you were the smartest guy in the world! You saved $100 on the car! At that moment you would have paid an extra $1000 for the car.
This was an excerpt from Jeffery Gitomer’s Little Red Book of Selling. Go to http://www.Gitomer.com for more information.
The Evans Real Estate Group Blog 