reputation.
There is also what I call Neiman Marcus syndrome. Many like to go to the best, not because it’s the best but because it is the most expensive. Those marking up by percentage can mark up more at these places and those with budgets they have to drain to get the same budget next year LOOOOVE to over spend.
About 20 years ago, I was making wedding videos. I noticed all the low balling and decided to go the other way. While other companies offered multiple packages for different prices, I went to one package at about three times the amount of anyone’s lowest bare bones package. What happened? Bookings galore. Did I do anything different, video-wise than I did when charging a third? Not a thing. I simply attracted rich snobby country club mothers of brides that came to me not for a video, but for bragging rights.
You could say some think a product is better because it’s more expensive. I think they just wanna tell folks how much they spent.
