Creating perceived value is essential; it can be achieved through storytelling and psychological mechanisms, which can make products feel more valuable and enjoyable to consumers.

Pricing and packaging your product effectively is crucial for attracting customers and ensuring they see value in what you offer.

The perception of value can be significantly influenced by how a product is presented, as seen in the case of IKEA, where the effort of assembling furniture increases its perceived worth.

Creating perceived value is a key responsibility for businesses; it involves enhancing the experience and presentation of products to ensure they are appreciated by consumers. For example, I always tell KFC to share the story of Colonel Sanders founding the company at age 65, highlighting his years of perfecting the chicken recipe, which adds depth to the brand's narrative.

The narrative behind a product can elevate its status, making it feel more like art than just clothing, which is crucial for engaging customers and creating a connection.

Designers and creatives can significantly enhance user experience by making products delightful and joyful to use, which can lead to increased usage.

In a commoditized market, effective storytelling and branding can differentiate products that otherwise have little to no inherent difference, and the best way to break into a market is to find a product that is so good that once people experience it, they will love it.

When launching a new product, it’s essential to justify a higher price point by demonstrating significant improvements in quality and sustainability.

Transitioning from a mass consumer goods company to a bespoke luxury brand required me to unlearn and relearn everything, as luxury is about creating unique, precious items that evoke desire rather than mass production.