How To Beat The Competition Without Lowering Prices

How can you charge more for your product?
Especially if you have competition is under pricing you?

And you're feeling the pressure to go lower and lower.+
It kills your profit margin and de-values what you're 
trying to sell.

The key - Add more value

You can bundle other items if you wish
or you can add emotional value.
Ex - an electric bicycle is expensive, but what if the
salesperson said you'll fall in love with
exercise all over again? You've just added more value.

The social value is 'you will be seen as the leader of the pack'
In other words, how will my friends see me?

And on the bigger picture.. you are riding to work and saving the environment
and my friends will respect me and I will love exercise again.
You have just increased the perceived value of that bike..

* What are the emotional, social and philosophical values of your product/service?

Source: Donald Miller