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A product that is slightly costlier than others, speaks for itself. Your loyal customers (if you have any) will automatically trust your product and due to their trust in the quality of your product, they will therefore, be willing to pay more than other similar products. Of course, you have to entice your customers by providing or offering more than what other products are offering.
first of all...u will have to have a unique selling proposition.
secondly, whats the placement of ur brand in market and the perception of brand acceptance in the mind of the consumer.
need too work on positioning brand identity, brand recognition, perception and USP!!!!!
DING DING DING - Given Mohammad a Prize!!! I am especially happy that is an Operations Leader that identified the single most important ingredient for success. It is the monetized differentiation principle. While brand, marketing, positioning can help get a product launched, they are "supporting" levers to the success. But without a truly quantifiable and monetizable (prove with benefits to the price you pay), businesses cannot sustain the long term "mass" market. But surely, if you have a niche consumer base, then a limited USP is enough because your captive audience is only looking for the special privileges of that brand. But if I were to assume that we are talking mass UAE market, then brand can command a slightly higher premium because the brand is already established with its clear USPs. A good example of how certain brands like Mercedes lost sight of their USP is how they lost nearly30% of their market share in the US to Lexus, BMW and Audi. They are coming back now but NOT because of the brand but because they lost their Stiff Snobby Attitude and are now doing what everyone else does to win business. - Sweat to win each car sale and Build "FUN" into the cars and most of all appeal to the younger masses who want style, performance, reliability and affordability. On the other hand, Apple's USP is clearly innovation (ahead of everyone by5 years), user experience (top notch customer care) and targeting the right audiences with a clear roadmap of "eager anticipation". There are buyers who will stand in line in Dubai or Mumbai or HongKong or NYC to buy the next Apple product than wait in line to go to their spouse's favorite movie.
branding it as quality based product for higher niches
The slightly higher costs can be justified as the particular product or service carries a niche quality which is at par when compared to the competitive brands available in the market and also not to forget the promise for a long term customer satisfaction.
In my opinion first work out to establish brand and sales will follow.
extensive ground marketing and promotions can do the trick.
Bidding through competition is usually generic specific i.e; technical specifications are generic/unanimous in requirement. It is preferred to market value addition aspect ( added beneficial specification than what is demanded) of the product to gain higher cost than the competitors.
in my point of view for new product brand ,it is necessary for advertising. then can gain some selling achievement in markets.
As you asked specific to UAE, UAE is a mature market. Thus, the consumer's are always to pay extra for the right product.
Thus, you can create either create a niche or first provide unique features which your competitor products do not have & only your products have
Or establish the sync of the 'Origin to the Brand' which would justify the quality, Ingredients, superior processes etc like Italian Authentic cheese, American sauces etc
Or if you are creating a new category which is not existing in the market .
However it would be tricky, as each product (There are000's of them which provide similar services try to differ by actual or Psychological thus chances of your differences may or may not be recognized by consumer's)
:-)
