Question

Can you provide an example of a company, product, service, or membership that people purchased at a lower price but later found so valuable that they wanted to keep it for life, even as the price increased significantly, because the value it provided was greater than the selling price (ex. Aairpass)?

Answer 1

Step-by-step explanation:

Yes, one example of a product that fits this question is Amazon Prime. When Amazon first introduced Prime in 2005, it cost $79 per year and provided free two-day shipping on eligible items. Over time, Amazon has added more features to Prime, including access to streaming of movies, TV shows, and music, unlimited photo storage, and free e-book borrowing.

Today, Amazon Prime costs $119 per year, but many people continue to subscribe because they find the value it provides to be worth the price. For frequent online shoppers, the free and fast shipping alone can be worth the cost of the subscription, especially since shipping costs can add up quickly for those who make frequent purchases. Additionally, the added features like streaming and e-book borrowing can provide even more value for those who use them regularly.

Despite the significant increase in price over the years, many customers have continued to renew their Prime memberships year after year because they find the value it provides to be greater than the cost. This demonstrates the power of building a loyal customer base by providing a product or service that provides significant value, even if the price increases over time.

hope this helps