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The Perceived Value of Your Products And Services
On this episode of the Lead With Purpose podcast host, Tze Ching Yeung talks about pricing because so many of us struggle to set the right price around our products and services.
KEY TAKEAWAYS
- Before we set a price, we have to ask ourselves the question: What is it we’re selling, is it of any value to anybody? Then we set our prices accordingly, and we have to be honest; is what we’re producing, whether it’s a product or service, actually going to solve a problem, do people actually need this thing, and what do they need it for?
- If it provides a low value, maybe set a low price, but if you know that what you’re creating or helping people with is very valuable for them, set a higher price. That value depends a little bit on what that person values.
- Instead of reducing your prices to make it seem more valuable to other people, it’s much better to increase the value of the thing you are selling.
BEST MOMENTS
‘Price is only an issue when there is an absence of value.’
‘If you’re selling a product of low value, what I’d suggest you do is stack the value. Make sure that it becomes more valuable, whether you design in other features or add things to your services.’
‘You can reduce the price to such a low level that, at a point, it loses its value.’
ABOUT THE HOST
Tze Ching started her entrepreneurial journey back in 2007 with the launch of a sustainable clothing and home furnishing ecommerce business. Next, she created a sustainable fashion brand.
In 2019, she launched a social enterprise to help raise awareness about the negative impact of fashion at schools and colleges.
Through the 15-year journey, she learned so much, but easily the most meaningful lesson learned was about the importance of marketing. She now focuses on channelling those insights to help others succeed, through We Disrupt Agency, a business coaching, mentoring and digital marketing company.
Tze Ching’s mission is to create a community of global change makers and to contribute to positive change in both people and planet.
CONTACT DETAILS
Tze Ching’s website: https://wedisruptagency.com
Facebook: https://www.facebook.com/wedisruptagency
Instagram: https://www.instagram.com/wedisruptagency/
Twitter: https://www.twitter.com/wedisruptagency
LinkedIn: https://www.linkedin.com/in/tzechingyeung/
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By Tze Ching Yeung
5
44 ratings
On this episode of the Lead With Purpose podcast host, Tze Ching Yeung talks about pricing because so many of us struggle to set the right price around our products and services.
KEY TAKEAWAYS
- Before we set a price, we have to ask ourselves the question: What is it we’re selling, is it of any value to anybody? Then we set our prices accordingly, and we have to be honest; is what we’re producing, whether it’s a product or service, actually going to solve a problem, do people actually need this thing, and what do they need it for?
- If it provides a low value, maybe set a low price, but if you know that what you’re creating or helping people with is very valuable for them, set a higher price. That value depends a little bit on what that person values.
- Instead of reducing your prices to make it seem more valuable to other people, it’s much better to increase the value of the thing you are selling.
BEST MOMENTS
‘Price is only an issue when there is an absence of value.’
‘If you’re selling a product of low value, what I’d suggest you do is stack the value. Make sure that it becomes more valuable, whether you design in other features or add things to your services.’
‘You can reduce the price to such a low level that, at a point, it loses its value.’
ABOUT THE HOST
Tze Ching started her entrepreneurial journey back in 2007 with the launch of a sustainable clothing and home furnishing ecommerce business. Next, she created a sustainable fashion brand.
In 2019, she launched a social enterprise to help raise awareness about the negative impact of fashion at schools and colleges.
Through the 15-year journey, she learned so much, but easily the most meaningful lesson learned was about the importance of marketing. She now focuses on channelling those insights to help others succeed, through We Disrupt Agency, a business coaching, mentoring and digital marketing company.
Tze Ching’s mission is to create a community of global change makers and to contribute to positive change in both people and planet.
CONTACT DETAILS
Tze Ching’s website: https://wedisruptagency.com
Facebook: https://www.facebook.com/wedisruptagency
Instagram: https://www.instagram.com/wedisruptagency/
Twitter: https://www.twitter.com/wedisruptagency
LinkedIn: https://www.linkedin.com/in/tzechingyeung/