As we all know High marketing makes the item seem more valuable than it is. For example, if someone came to my jewelry store and wanted to sell me a pandora bracelet I would but it for the value of the silver that is in it. Generally silver is very cheap and the total silver weight of the pandora bracelet is only worth about $0.70 or 70 cents. That’s it.
First one you need to produce a product of greater quality or benefit than what your lower cost competitors have, in order to validate a higher cost. This may mean production is local, versus sent abroad, materials must be sourced at a higher quality level,
Second things you need to build brand equity by marketing, which is higher and more targeted than your competitors.
Quality + Marketing + Demand
And the last one you are trying to grow, maybe even globally, because a true successful business these days can not live only locally. Penetrating foreign markets takes research, different consulting groups on the ground.