One of the first marketing messages that is taught is that you should never sell on price, but always sell on value.
Yet most of the brands do not spend any time in figuring out what is the value proposition that they are offering and what is it that their customers seek (apart from a cheap deal). Experts debate on why value proposition should actually not be price. Some suggest that price is the biggest value that is being offered by a brand, so why not make it your value proposition. There is a strong reason behind it.
When a person wants to buy something, he has limited resources and for those limited resources, he needs to get the most. The resources that he has are usually in the form of money, and what he wants in return is usually in the form of benefits. These benefits can be anything from utility to life re-defining methods and there is no dearth of such products, but when the biggest benefit is cost / less price / savings, then the product immediately becomes a commodity and that commodity loses all it’s charm. This is not only bad for the industry overall, but also bad for the consumer who gets no pleasure from the purchase or use of that particular product.