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What’s the Difference? And Will Anybody Care?

Wednesday, January 1, 2014

There is a lesson here … I am sure of it.

Yesterday my wife received an email from a friend of ours from Scotland. She asked Barabra to do a favor for a friend of hers. It involved buying a particular boot which if purchased in the States would save $100. The boot cost nearly $500 before the savings.

Barbara did as she was asked and everybody seemed happy.

Then, we came across another boot that appeared to offer the same style … which was selling for less than $100 … without any special discount.

My point is simple. People buy what they perceive as value and that which satisfies their particular wants and desires. Some people, (many people) purchase products and services based on their own criteria. $100 vs $500. Same style. Same feel. Same look. But are they the same? For an extra 300 geeters I would like to believe that there actually is a difference between these two boots. (I am confident there is, but you can never tell for certain these days. The proof is in the wearing.)

MESSAGE: I want you to price your product or service based on your criteria. Do not fall into the trap of matching prices of the cheaper vendor. If people see value in your service they will work with you. (Not everybody.) This woman could have bought a similar shoe for $300 less. Many women probably did. But many women prefer to do business with Rag & Bone. Many people will prefer to do business with you.

Hold your ground people. Get up. Get out. And find the people you can help.

Contact Mike at mike@mikemarchev.com or visit www.mikemarchev.com

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