Price means nothing to today’s customers

The concept that customers buy based only on price is a myth and it must be taken seriously by marketers and brands in order to survive and prosper. Price on its own is meaningless and claiming that the price of a product or service is the sole reason for a product or service’s lack of popularity or failure to sell is simply an excuse.

Your prices can add value to your brand

When designing a brand logo, it’s important to recognize that customers make purchasing decisions based on perceived value—essentially, what they receive relative to what they pay. When comparing products or services becomes challenging, customers often default to price, creating an opportunity for brands. This tendency helps explain the perception that price is linked to quality, where a higher price can actually serve as an advantage.

Make purchasing simple and easy

In brand development, it’s crucial to consider how customers assess price and value before adjusting your pricing strategy or engaging in a pricing war. Understand that people generally prefer to conserve energy, meaning they often avoid the mental effort involved in thinking, comparing, and evaluating products, businesses, brands, features, benefits, and prices. To bypass this, customers will opt for shortcuts whenever possible. Therefore, it’s essential to ensure that your brand makes the purchasing or inquiry process as easy and efficient as possible, removing any barriers from the very beginning.

Take care with initial pricing since a customer’s initial perceptions tend to get locked in and hang around to cloud judgement. You never want your customer’s first experience with your brand to be one of a huge discount as they are unlikely to ever pay top dollar or the full price in the future.

Pricing for long-term sustainability

For long-term business success, smart pricing is all about value first—setting the right reference points and guiding customers toward the best choices. Instead of racing to the bottom with discounts, focus on creating perceived value through strategic positioning and differentiation. Customers seek quality, trust, and convenience over just the lowest price, making it crucial to optimize your branding, messaging, and pricing strategy.

Looking to refine your brand positioning and pricing approach? Partner with Liquid Creativity, a leading brand identity agency Melbourne, to craft a strategy that enhances your brand’s value and drives sustainable growth. Let’s create a brand that stands out—connect with us today!