pricing high to fit product image: high pricing by a company because of the perceived superiority of a product or service or the desire to suggest superior quality (2)
That is the definition of a term I had never heard, or maybe I heard, but did not know or recognize, until I was watching an IBM commercial. Somehow, they were trying to say they could teach a person how to sell cashews that cost 2 dollars for 8 dollars.
This is a real, ever present consideration in my daily travel life. I want to know, why in the Airport, people are paying double for the same brand product they can buy in the street for half the price. I cannot understand why a person goes to a hotel that has little value, is a bad value, yet they then brag about living in the dump.
Marketing is all about perception, I feel myself to be a marketing expert, I knew of this principle for year, never had the words for it, until now. I am working on a project for the discerning person, the person who wants the best value for their money. There is a shell game that happens with marketing, I want to remove the shells and show the person what they are buying, not the noise. I have worked on this for years, an evaluation of hotel, a list of benefits of a hotel and a list of problems. The list grows and never ends, it will continue to evolve.
I get on websites where a person gives a subjective opinion about a hotel, I think, or want to know. How many hotel has this person lived in, how can you compare or think to explain on a hotel. I think anyone can start to talk about one benefit, however to say or talk about all the hotels is difficult, of course we all want to try, however, it is fraught with problems.Premium Pricing
in the UK, there is a TV-ad for a French beer which says it is 'reassuringly expensive.' Frankly, it tastes of urine, but it is very popular.
When I was working for a construction contractor, we were put up in a Travel Lodge place for the night because it was a long way away. it cost them £55 (over $100 US) per person per night. And I had a much better room in Nepal with more TV channels, a better bathroom and a better second bed for about £2.50, or less than $5 US. WHY?