Customers will flock to your company/store/website in large numbers when the price is right. Remember, low price is the most attractive feature for most consumers, as they may sometimes compromise quality to buy the product at cheaper rates. However, there is a limit for you to lower your product prices. Surely you do not want to break even or face losses in terms of huge cost of service or cost of goods sold.
In order to lure quality conscious customers who can give up anything for a long-lasting, reliable product, you must improve the quality of your product. Since your aim is to attract quality driven customers, prices should not an issue for you.
People, who prefer quality products over substandard, low-priced products, do not usually care about high prices. These are the customers who will keep in touch with you as long as you satisfy them quality wise. So, upgrade your quality if you want to tap this customer category.
Focus on advertisement and win over your customers. Just lowering prices and upgrading the quality of your product will not help you attract customers, as you will need strong advertisement to let people know you actually have these features.
Advertisement will highlight your products. Effective advertisement is so important that even those selling low-quality products often lure customers. So, you cannot underestimate the power of advertisement. You can use electronic media, print media and the Internet to tell buyers that you have what they are after.