Tag Archive for: price
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https://strategylab.ca/wp-content/uploads/2017/06/I-can-get-it-cheaper-1.jpg 667 1000 Jeph https://strategylab.ca/wp-content/uploads/2021/07/strat-icon-2021-white.png Jeph2017-06-12 22:31:462017-06-12 22:31:46“I Can Get It Cheaper”
Few phrases say more about an individual than those five words. So much is communicated when one judges a product or service based on the price alone.
The fact that you can find anything these days for a cheaper price shouldn’t come as a surprise. The surprising part is people still use price as a major factor in decision making, when they verbalize their frugal attitude it labels them.
1. When you say the words “I can get it cheaper” you seem, well, cheap.
We don’t look up to cheap people. Do you have a friend or family member brag about a “deal” they got at Walmart? Probably not because that’s not something to brag about. We look up to people who are generous, who don’t count the change after some one gives it to them, who tips more than they should, who doesn’t make a big deal about money ever. Those are the people I look up to.
In the creative field you can always find someone who’s willing to do what you do for a cheaper price, but that price comes with a cost.
Just because it costs less at first it may end up costing you a whole lot in the long run. I find in my old age I’d rather pay a good price for something and get a great product in return. Every now and then when cutting costs you get burned. Ever buy something just because it was cheap? Tennis balls, never buy the cheap tennis balls, I’d much rather pay more for a better quality ball.
Pizza, sure you can get cheap pizza but c’mon Sparky’s isn’t even that much more but the taste!!
As a kid it was hockey sticks. You could buy a cheap stick at Superstore but it won’t last long.
I wrote about this 7 years ago, labeled it as “Walmart Culture” cheapest prices for the cheapest products, it wasn’t sustainable. Now in 2017 it has become extremely apparent some people will always use price as their major deciding factor.
Price is a calculation, value is a feeling.
Be careful not to confuse the two, value is a much bigger topic for another day. Read more
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Stop Buying Brand Names!
Ten years ago as an angsty little marketer, I wanted to explore why I was leaning more and more towards “No-Name” Products, so I wrote this; The No-Name Strategy. You know the No-name brands, every supermarket has their “own”. At Superstore: No Name, and President’s Choice. At Safeway, Select (my Grand parents never bought regular pop), at Sobey’s it’s Compliments, at Costco it’s Kirkland.
Almost every grocery store has their own brands which tend to be cheaper than their comparable branded counterparts. So why are we buying the more expensive one? Do you feel you trust it more? What bad stuff could be in the generic version?! For a long time I’ve bought generic pop citing that I still can’t taste the difference. Though teaching my first class I did divulge the fact that when I first moved out of my house and living with a roommate, we used to purchase no-name pop for the house but branded Coke or Ginger Ale if we were going to a party, why in the heck would we do such a thing?
It’s moments like this that I love marketing for, moments that make you feel so humble, so, well, dumb in moments of pure showing of ego.
The fact that we didn’t want to be seen at a party with “No-name Cola” was a sign of where our confidence was at. After all, you know what the studies show, the larger the brand name on your chest, the smaller the ego. Or what the economics community calls Conspicuous Consumption; buying things to signal to others your wealth. Not a healthy practice to be into, I know because for the majority of my life I loved brands, wore brands, and had to have the new “cool” thing.
Buying quality products is one thing, refusing to purchase items because they are unbranded is silly. The problem with that is it’s not sustainable and teaches the wrong lesson. Life’s not about stuff. It’s about impact, experiences, and love. Things help you measure your status, but the moment you purchase something just because “you can” doesn’t mean you should. Humility goes much further than the person with the newest “thing”.
You aren’t in the in crowd unless you’re doing what the cool people do! Who decides what’s “cool”? Since the dawn of time some people have just been better trend setters than others, those that understand it know what to look for. They easily convince us to buy the next iPhone, headphones, Xbox, TV, etc. The best brands are the ones to trust…..right? You can’t possibly buy the generic brand, can you? Read more
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