What’s the most underrated and underused marketing weapon?

Pricing!

Many marketers and salespeople wear their product’s pricing as an embarrassment and try to get a sale at the lowest price point.

Imagine that brand A sells a product for $100 while other brands sell similar products priced at $120. 

Suddenly, brand A offers a 20% discount for a seasonal pricing of $80.

This forces other brands to cut their pricing to $80. 

The ideal pricing principle for a brand should be to offer more for the same price than the same for a lesser price. 

So instead of cutting their price to compete with brand A, other brands could add complimentary offerings (worth maybe $40) at the same price of $120. 

This bonus ensures that the:

1. Product’s value is still perceived as $120
2. Brand retains its premium perch
3. Brand is differentiated from others in the pricing race
4. Buyers get bonuses worth more than originally offered ($40 instead of $20)