One of the questions I sometimes get asked is…

"How do I make my product stand out?  I'm selling the same physical product as my competitor and it seems like the only way I can compete is to lower my price. Is there anything I can do to make the customer buy from me instead of my competitor?"

It's a good question and it's a problem that many people run into.  The one thing you don't want to do is to start a price war. A price war simply leads to lower and lower profit margins and it's bad positioning when the only thing that sets you apart from yourcompetitors is price.

What can you do?

Well a simple and easy fix is to create a valuable information product to go with your physical product.

It could be a booklet, an ebook, a special report, an instructional video or an audio.  The main goal is to add more value to your product so the customer will choose to buy from you, even if someone else offers the same product.

Imagine this…

You have two different sellers.  Both selling Nikon D300 digital SLR cameras.  Both cameras are priced the same and the customer service from each company is equal.

If you buy from seller A, you simply get the camera.

If you buy from seller B, you get the camera and a special report entitled, "Secrets Of The Pros:  How To Take Magazine Quality Pictures With Your Nikon Digital Camera…Even If You've Never Used A Camera Before."

All things being equal, which seller would you choose?

I'd choose seller B because I'd want to know how to take magazine quality pictures. 

Seller B offers more added value, even though it doesn't cost him or her anything to send me the digital special report or ebook.

You could create an information product for any physical product you market.

Remember, you don't have to compete on price.  Always look for a variety of different ways to add value to your customers above and beyond the product that you're selling.