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by SegMetrics

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Article

How to Transform Any Product Into a Premium Product

Imagine if there was no difference in the quality of products you purchased. You wouldn’t have the fun of buying clothes at a discount store or from a couture designer…There would be no difference in purchasing a Craigslist used car or a brand new luxury Lexus…And you’d get the same experience vacationing at a cheap hostel or a five-star resort.Fortunately, every product or service you use exists on a quality spectrum. You can decide whether you want something high-end, low-end, or mid-range. And that allows the marketplace to hold even more products – like yours!Whether you’ve already launched or are just thinking about launching, it’s important to identify where your product falls and where you WANT it to fall on the spectrum.Do you want your product to be like McDonalds……appealing to a mass audience while selling many products of low quality on the cheap?Do you want your product to be a fancy steakhouse……guaranteeing a quality experience at a premium price for a niche market?Or maybe your product is somewhere in the middle……providing a perfectly adequate experience at a reasonable cost?It’s important to note that we’re not saying that being upscale or downscale is right or wrong. After all, McDonalds is a billion dollar corporation that started out selling cheap burgers. Our point is, there’s a demand for products and services at all points on the spectrum. But it’s vitally important for you to understand your own goals for your product, and what your target market expects from you.We know you’re capable of “steakhouse quality” and pulling in steakhouse revenue. Even if it’s just something to aim for – why not aim high?Let’s talk about the three main factors that set a steakhouse product apart from a McDonalds product, and how you can adapt them to your online course.

Keith Perhac
Founder @ SegMetrics
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