The Importance of Perceived Value when You are the Brand

march-money-20I was recently having a riveting conversation with my marketing manager Tom Fanelli. He was explaining to me the concept of Perceived Value. Perceived Value is defined as the value that a product or service has in the mind of the purchaser. The consumer’s perceived value of a product affects the amount of money that they are willing to pay for it.

In simple terms, consumers are clueless to the real cost of production for the products they buy. Instead, they simply have an gut feeling for how much those products are worth to them. Therefore, in order to charge a higher price for a product, companies can pursue marketing strategies to create a higher perceived value for their products.

What is the Perceived Value of You?

I realized that in the current state of business, and for that matter society, You are a product. Weather you are doing a service for an employer or client, or looking to raise capital for your business, or looking to attract a romantic partner, the way you market (or present) yourself will affect the perceived value of your brand. Therefore, it is more important then every to put your classy, high value image out there.

A client, investor, or mate will judge your value on how you present yourself. If you are out and about in a beater car, wearing raggedy clothes, then you must not be high value. However, if you show up in a fancy car, slick clothes, and classy accessories then you must be good enough at what you do to have earned a lot of money doing it… That means it is worth spending the extra money on you to get you to do the job for them.

Investing in Yourself is Always a Good Investment

So whether you are out there trying to get a new job, woo clients, or find a mate, Investing in yourself is always a good investment. Lease that nice ride. Get a Slick Suit, and buy yourself a nice watch and sunglasses. Look classy first, and then you will become classy.