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Product Value

Check out the long-format video here

So, why does perception matter to you, a small handmade artisan?


  • The way you present yourself tells your story and shows the value of your products and your company.

    • Take Apple for example, because they have mastered the art of perceived value, the iPhone’s raw cost is relatively low compared to the retail cost.

    • Why is it retailed at such a high cost?

       

    Have you ever seen an Apple commercial? 

    • It barely shows the product at all, it shows the user interacting with a lifestyle you desire.

       

  • Why is Apple able to sell its product so well?

    • It’s no longer just a phone, it’s a lifestyle, it’s a social standing.

    • It’s a sign of luxury. 

    • It’s all the intrinsic things it gives us rather than the actual functionality.

       

  • The perception is that:

    • Here is limited quantity, limited edition, limited time frame- 

    • So that is this? 

      • This is the formula for FOMO- people who think they will miss out on something because it is going to run out and never come back 

         

So, why does perception matter to you, a small handmade artisan? 

 

  • The way you present yourself tells your story and shows the value of your products and your company.

  • A product doesn’t have perceived value due in part because of the way it is being DISPLAYED.

    • Displaying your items should matter. 

    • It’s the very first impression your customer has of YOU, your products, and your brand. 

    • If your display lacks depth, character, branding, and storytelling then you lose automatically without even standing a chance of making a sale .

    • How do you STAND a chance, GET IT!?!

       

  • This is all depending on the environment and what YOU are being told.

    • Tell a story

      • Share the maker’s movement 

      • Tell me why this product is different 

      • Help bring the story of the product to life from your ideal customers perspective 

        • Why is it unique or different and furthermore, why it is more expensive than the rest of the goods from other stores?

    • Add in texture 

      • Try to add sensations to the experience

        • Touch

          • Tester items 

        • Smell

          • Tester items 

        • Visual pleasure 

          • Ingredients in glass jars 

          • Lighting 

          • Display 

        • Taste

          • Samples 

        • Hear 

          • Music 

    • Put like-colored hues together

      • Complimentary 

        • Neons together

        • pinks together

      • Seasonality 

        • Put the most exciting items closer to the entrance 

          • This helps draw them in 

    • Add subtle suggestions 

      • “Pairs well with”

      • “This month’s best seller”

      • “Meet this maker”

      • “This maker XYZ” 

      • “The perfect gift for XYZ” 

    • Create an experience with the items that are intuitive 

      • Grouping items in a hierarchy 

      • Grouping items that elevate one another 

        • Pair bathrooms essentials together 

        • Pairing funny meme type items together 

        • Pairing good gift combos together 

           

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