There’s a lot of research that goes into how much you charge for your products and services, but do you spend as much time thinking about exactly where you’re sharing that price?
Interestingly, research shows that price placement in relation to products makes a big difference to buyers. A recent study published by the Journal of Marketing Research reveals that how we evaluate — and eventually justify purchasing — an item can depend whether the price or the product is listed first.
Product first = All about desirability
In the case where a product is shown ahead of its cost, buyers immediately judge the item based on its desirability. They base their decision to buy on the question, “Do I like it?” This is a particularly successful marketing strategy for unique, visually appealing, and luxury items.
Price first = All about value
When a buyer sees a price, he or she immediately thinks, “Is it worth it?”, basing a decision to purchase almost entirely on value or necessity. It’s an excellent tactic for selling products and services that provide a great deal over the competition.
Where are you sharing your price?
This information presents a great opportunity. Knowing which category your offerings fall under could help you format your catalog and e-commerce channels in a more effective way — one that engages your customers at the right point in their decision-making process.
Once you’ve settled on your ideal layout, make sure the presentation is pristine. The Dingley Press is here to help you boost the visual marketability of your catalog with our unbeatable print quality and customer service. For more information, contact your Account Manager. We have the expertise to take your catalog to the next level!