We buy stories.
Apple is a story. So, is Starbucks. And Nike.
If all you are doing is selling a product, then you become a commodity and join the race to the bottom, to be the cheapest.
But when you sell a story that resonates, then people engage with you and the price they pay becomes a part of the story itself.
The story helps the customer in building connection, identity, belonging, and emotion. It's much more than the product. The product is a souvenir of the story.
Building a story is hard work because your story can't be for everyone, you have to choose. If you play safe, you end up with a boring story. And no one buys or shares a boring story.