A cheaper substitute might mean buying nothing. Personal coaches, for example, usually sell against this alternative. It’s not a matter of finding a cheaper coach, it’s more about having no coach at all. Same with live music. People don't go to cheaper concerts, they just don't value the concert enough to go at all.
(..)
Cheaper is the last refuge of the marketer unable to invent a better
product and tell a better story.
The goal, no matter what you sell, is to be seen as irreplaceable,
essential and priceless.(..)
Of course, the realization of what
it takes to create value might break your heart, because it means you have to
specialize, take risks, create art, leave a positive impact and adopt
generosity in all you do.(my highlight) It means you have to develop extraordinary expertise
and that you are almost always hanging way out of the boat, about to fall out.
Seth Godin, from here: