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+--- Thread: How can I market a more expensive product than my competition? (/thread-47348.html)
How can I market a more expensive product than my competition? - Big Daddy Jim - 11-27-2012 06:56 AM
We sell a solar panels that are more expensive (by not more than 20%) than our competition. However we have proof that our is better (via an independent public report). However people still want the cheap solar panels on their roof even if it makes less money than ours. So my question is how do we market ourselves to compensate for this?
- Eyebright - 11-27-2012 07:04 AM
To sell the more expensive option you normally need to aim for the classy market - kind of like selling 1st class tickets. I would give really good service, arrange everything so there is no stress for people - make all the advertising really beautiful.
Also i think it is a really good idea to arrange finance so that people pay nothing upfront, and only pay back some of what they save from putting in the solar panels.
If you want more assistance feel free to contact me
- hollowbeast717 - 11-27-2012 07:04 AM
The question is not about your marketing output, but WHO you are marketing to. Think of your solar panels like a Lexus, think of the competition like a Ford. They do not really compete, because they are targeting a different demographic. Yet, every Ford owner would love to own a Lexus.
Use the 4P's of Marketing beyond your product, try it on your advertising too:
Product - You are not selling Luxury Solar Panels, you are selling comfort, lower energy bills, worry-free serve, top quality, eco-friendliness.
Placement - Golf channel, HGTV, Luxury home magazines, avoid cheap local advertising.
Price - This type of advertising might cost a bit more so use a drip marketing technique on a narrower market segment. Only market to the segment you can afford to market to.
Promotion - Use social media tools to spread your advertising. And, be clever. For example. Perhaps you make an add with a factitious coupon from $1 million dollars off. An ad like that tell people this product is only for wealthy people. Next, thing you know it becomes more desirable to the people you near spent a dime advertising too. Write articles and press releases to talk about the glamor of the product.
If you need anymore help ask the Marketing Rule Breaker