Business can be a lonely game, but it doesn't have to be.

Welcome to Boutique Chat, where we explore community over competition and how to scale your company with the balance and the happiness that we all seek.

We'll hear from product-based businesses of all types, retailers, e-commerce, and wholesale brands,

along with industry experts shaping the future of our industry.

I'm your host, Ashley Alderson from the boutique hub, and I can't wait to chat.

Hey, guys, welcome back to Five Minute Friday.

Today is one of my favorite topics. I, as you guys know,

if you've been a member of the boutique hub in our community or if you've been a part of retail

boot camp, you know one of my favorite topics is marketing and brand positioning and understanding

how to serve your customer. And this is one of the lessons I just completely geek out on teaching.

So I had to bring it here. And that is the difference between value and price. And I'm here to

tell you, I see a lot of retailers fall on this trap of really not understanding and maximizing

the difference between the two of these things. And when money is tight, this is critical, especially in 2024.

This is a weird year.

So I think now is the time to really dig in and understand the difference between value and price.

So what is it?

Well, price is the point.

It's not just a number, but it's the point at which the ideal perceived pleasure and value of buying this product and

using this product and getting the benefits from this product outweigh the perceived pain

of letting go of your hard-earned dollars to buy the product. So value equals the point at which

the pleasure outweighs the pain. Now, that can be a huge fluctuation

in dollar amounts, right? How much does the pleasure outweigh the pain? That's up for you to

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