Friday, January 4, 2013

Consumers respond to value when it is offered. They respond to price when it isn't.


  How did Ray Kroc, founder of McDonald's, get rich? What about Warren Buffett? Or Henry Ford? They didn't do it by clipping coupons and settling for generic ketchup. They did it by offering the best product in their categories, at the best price possible, (Best, not lowest. A fair price that offers value to the consumer and profit to the producer.), and by building a reputation for offering useful, reliable products.
  Consumers respond to value when it is offered. They respond to price when it isn't. That means that as a business owner, you must offer value to your customer, or forever let your price be set by the guy up the road who is always trying to undercut you. Learn to sell quality products at a fair price and never wonder again if you can make payroll, (or buy name brand ketchup).
  

2 comments:

  1. Couldn't agree with you more, and very well said! Looking forward to your sales material this year.

    ReplyDelete
  2. I may have to retract thje Ray Kroc comments. Apparently McDonald's just threw Heinz ketchup out for having the temerity to supply Burger King too. Stay tuned to see where McDonald's gets their ketchup from.

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