Sometimes the more expensive product wins since higher customer willingness to pay more than offsets the higher price

Two products that compete in the same market that the most expensive product has higher market shares are BMW cars and KFC chicken.  Key features of these products which promote buyers willingness to pay are as follows:

·       Quality products’

·       Proper sales service

·       High focus on customer satisfaction

·       Luxurious feeling.

Features of more expensive products result in the higher willingness to pay are mentioned below:

·       Easy to buy: consumers do not prefer long bargaining or complicated situations during shopping. Thus, they are willing to pay for the products to buy them as early as possible. Moreover, if the organization has proper streamline process, customers show readiness to pay a bit more to buy the product

·       Quick arrival of products: High willingness to pay ensures quick delivery of products. The business organizations choose a faster delivery option to deliver products quickly to the customers if the customers pay higher than the normal.

·       Expansion of customers: Number of customers is growing. Thus, they want to get the best from the market which leads them to pay higher.