A number of companies have been able to prove consumers are not quite so price-conscious as is commonly believed, Eric Holtzclaw writes. In many cases, they will be willing to pay a little bit extra if a product is something they truly appreciate. "Before automatically deciding you need to give your customers a 'deal,' instead look for ways to add value and solve their fundamental problems," he advises. "It's in that approach you can actually charge more and avoid the discount trap."

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