As a rule, poor quality items and services are generally less expensive than those of higher quality but while the nuts and bolts of pricing are important, an even more important consideration is how to add value to your products.

Some unusual value trends have emerged in the Japanese market during the recent years of recession. Although the yen has weakened significantly, imported goods are still enjoying high demand with a surprising inelasticity of price among strongly branded, high-end products such as those offered by Gucci, Prada and Hermes. Some of these fashion houses have even been able to open specialty boutiques in up-market Tokyo locations.

In sharp contrast to the market for these high-ticket items is the frenzied growth of the 100 yen ($1) and discount shops, offering exceptional value on a wide range of items. Whether buying expensive or inexpensive products, the Japanese consumer is now demanding value.

This turnaround in consumer outlook represents new opportunities for those companies that can establish the right product and pricing mix and capitalize on today's value-driven consumer goods market, so different from the free-spending days of a decade ago.

Understanding what will add value to your product in the mind of the Japanese consumer is a key to your success in Japan, whatever industry you are in.