The Marketing Bureau


Specialist Marketing & Communications Resourecs

23

Aug

Meredith's Musings # 15


Life (and Marketing) Is Not Always About Price

It’s rare for people to purchase products & services based solely on price. This is true in both B2B (Business to Business) and B2C (Business to Consumer). So why is it so common for businesses to engage in such aggressive price promotion at the almost total exclusion of other propositions?

I’m not sure, really.

The only theory I have come up with is that, for whatever reason, many businesses struggle to come up with an alternative, compelling offer that resonates with their customers.

So what could such alternative propositions be predicated on? Here are just some aspects worth thinking about

Service
Convenience
Quality
Design
Heritage
User Experience
Personality
Loyalty
People

And there are many more.

So next time you are developing a promotional campaign asking your prospects to pick you because you are cheap/cheaper/cheapest, why not take some time out to think about your markets needs, wants & preferences beyond price  and develop an offer that better matches that.

Just a thought.

Comments
Nicki commented on 10-Feb-2012 09:23 PM
Hallo Brian I hope you and yours are well. Just to let you know I am rereading your musings - and enjoying them@ And being inspired by them! Think of you often and hope to see you soon, my regards to Heather and Tom. Sincerely Nicki

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