This is one of those things that usually escapes us. It's subtle in nature and the end product seems like such a value, we buy it. It has less to do with the value of the individual items in the package than the value we perceive because of the convenience of the packaging. Confused yet?
Think groceries. Take the Lunchables brand by Oscar Meyer. Imagine the enterprising product development team that brought this package out. At first it probably sounded ridiculous. "We want to take a few pieces of cheese, a few pieces of meat and some crackers and sell it as a kids meal". I'm sure it was hotly debated in the board room before it was ramped up for production. The first response was probably, "why would anyone pay that for one meal when they could assemble it themselves for a fraction of what we will charge?" Fast forward a few years and lunchables are everywhere! They even did it with the peanut butter jelly sandwich. Who would have thought folks would buy premade PBJs. Yet we do, to the tune of millions of dollars per year. Why? It's all about the packaging.
We want it easy. We're America dammit! We innovate and improvise. We invent and create. We can turn a profit on practically anything. If we can't, we repackage it and try again. We want the new TV to be delivered and in instant hook up condition. If it doesn't, we will gladly pay more for the one that does. That's how we roll! We want our new radio to come out of the box with batteries taped to the back and our favorite stations preprogrammed.
So what does all this mean when it comes to eBay? It's pretty simple. Repackage. If you can buy something for a decent price and make a little profit. Repackage it. Add some bells and whistles to the deal. If you're selling a digital camera, add a tripod and a memory card. Selling an iPod, throw in an iTunes gift card and a case. Throw in an extended warranty at no charge. You get the idea. It's a competition for bidders and buyers. Your items don't necessarily have to be the best price. Just the best perceived value. Primary products have small markups. Accessories have HUGE markups! Package them with your primary product to drive up the perceived value.
You can do this with practically anything you sell. Anything seems more valuable when there are freebies included with it. Remember value has more to do with perception of value than actual value. If your item makes my life more convenient because of the added value items. I will gladly pay you more for it. Don't believe me. Ask the Lunchable factory!
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