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Premium pricing

How does Apple get away with its premium pricing?

It actually doesn’t get away with its premium pricing!

Instead, it gets us with its premium pricing

Typically, people think that they can command higher pricing by building a quality product.

Apple builds products that create the need for another interconnected product. 

It leads us from one product to another product or accessory, and makes money on all sides. 

Apple’s pricing has less to do with its premium mindset and more to do with its product strategy.

When you’ve spent $2k for a MacBook, $300 for AppleCare, etc., you don’t think a ton as you reckon, “Might as well buy a case and an HDMI connector too”.

Takeaway

Captivate them with connected products, so that you can command margins with compelling pricing.

How is your product strategy driving your pricing strategy?

What is the most luxurious or premium product that you have bought? Share with me here.

Price is what you pay. Value is what you get.

Warren Buffett

Kurian Babykutty

CEO, 40 Parables

Kurian's a steward of storytelling and a keen observer of people, which is why he geeks out on making marketing meaningful.

Manna is tastiest when shared together.
Share this with someone who needs it today.

Manna is tastiest when shared together. Share this with someone who needs it today.