Do you think people buy your story or your product?

I'm in the process of launching a product. Generally speaking, it's a product that can easily be replicated, prices can be undercut and many people have tried and done it before. A saturated market where new brands become huge and many fail. My question is, do you think people buy your product or your story behind the product?

If it's a product with a differentiation problem (all competitors' and your product have little differences), then finding something that makes the product better / different should be your first priority.

The next should be:

• Creating a better designed user experience than your competitors. Design matters. And a easier to use product with the least friction points can be a real competitive advantage.
• The story behind the product.

The story behind your product serves as creating a pragmatic, loyal brand. It is no substitute for a product that provides some specific value to customers.