149: How to Build a Wealthy Business With a Premium Brand

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Do you want to build a wealthy business? You need to understand there’s two kinds of brands: a discount brand and a premium brand. What is a discount brand? A discount brand is a company that discounts their products. They come out with a product, they set a price, later on they discount it, and they lower the price. Premium brands never discount their products. They never lower their price. If anything, they increase their price. We all buy from both kinds. We buy from premium brands and we buy from discount brands. I don’t discount my products, I don’t have a discount brand, but I still buy from discount brands. I will look for coupons, I’ll find the way to get the lowest price, because the true value of a product is the least amount someone is willing to sell it for.

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