09. Does Everyone Eat at McDonald’s?

09. Does Everyone Eat at McDonald’s?

Right, have you thought about prices? Well strap yourself in, as I am about to prove to you that not everyone buys on price. That was a promise I made to you yesterday, and I always keep my promises.  

So I am.

But wait, there's more.

Because I'm going to prove to you almost no one ever buys on price alone.

Although, I'm not going to do it for nothing.

I want something from you in return. And no it’s not your money I’m after.

Rather, I want a promise from you.

If I can prove to you price really is not the issue with your buyers, even though you and they think it is...

Then I want you to test a price increase right now. Right now, as in today.  

Increase your prices.

Do you think that’s fair?

If I prove that price is not the issue, you have no reason not to raise yours, right?

Right.

Good.

So, the Proof.

It's simple.

Here's what I want you to do: go outside and look down the street where you live or where your business is.

If for some reason you can't do it now, just do it when you get home.

Now, make note of a few things you can see and then answer these questions:

  • Are people living in the cheapest houses they can find?
  • Are the people you can see in the street wearing the cheapest clothes they can buy?
  • Are they driving the cheapest cars?
  • Are they buying only the cheapest food from the supermarkets?
  • Do they own the cheapest mobile phones?
  • When they eat out, do they only ever go to McDonald's?

And I know the answer is no, no, and er, NO!

Fact is, if people really bought on price all the time then there would only be one model or kind of anything: the cheapest.

But we know this isn't true.

There are Minis, Audis, Rolls Royces and Ferraris.

If people bought their cars only on price, then no one would join an umpty-month waiting list to splash out a couple of hundred grand for a Ferrari.

Now, there are two things we need to focus on.

The first is...

When people do buy on price, why are they doing it?

And the second is...

What do they want instead of low price?

Something to think about for now and the answers to come.  

Warmly,
Kat

Next article...

P.S. Madam is lying back in the chair, the bottles of Evian have been heated to just the right temperature and the cleansing of the hair commences.  

Five bottles later and the hair is clean and shiny.

Soft and luscious.  

What a huge difference soft water makes to the hair.  

You can tell when you travel if the water is hard or soft in each country just by how your hair feels after you shampoo and condition.  

Sometimes it is so soft that it leaves hair limp, which is I suppose far preferable to feeling dry and crusty.
So anyway back to madam in the chair.

All clean, personalised attention from two staff, lovely blow-dry. She was grateful for the lengths we went to right?

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