What is the difference between these 2 products I just purchased on Amazon? Both bottles of 16.9 oz of #drinkingwater are from well known #brands like Nestlé & VOSS Artesian. Both are in plastic bottles & sold all over the world... but have you noticed the price difference? 🙀The #Nestle x 24 pack is $9 and the #VOSSWater x 24 pack is $30. Why?
The water volume is identical and is the quality that dramatically different? Why?!?!
Most people would quickly reply “It’s the brand!” Which is true - people are paying for perceived value. But what determines that perception? 🤔
The packaging costs for plastic bottle and master case are definitely more for VOSS, but only slightly (not enough to explain the 3x price hike). 📈
YOUR NEXT STEPS:
So keep this illustration in mind when decide if strategy, money and time to invest into brand positioning. The next time you're evaluating your sales strategy consider these questions to create one that increases profit:
How will your brand #packaging effect price?
Who are you targeting as a customer and what price do you want to sell to them at?
Does your packaging convey and convince of your products value?
What do your STRUCTURE and VISUAL design elements convey about your products value currently?
How can a better perceived value benefit the #profit at your bottom line?
There are so many examples! Here is a video of a LIVE exploration inside the aisles of Kroger to check it out in store!
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MORE ABOUT EMILY PAGE
Emily is CEO of Pearl Resourcing and has managed and launched multiple 7-figure brands in Costco, Williams-Sonoma, Kroger, and Amazon. She’s bringing you the expertise, resources, and mentors you need so that you can develop products and make them sell.