June 10, 2021
Screw Guns Redux
In yesterday’s message, I violated one of my cardinal rules for this daily list, which is this:
Never write an email about more than one thing!
I can always tell when I violate this rule because lots of the responses I get are not about the thing that I thought I wrote about.
They are often confused or argumentative, and start with lines like, “I usually agree with all of your messages, BUT in this case...”
BTW - This is one of the things I love about an email list. People can hit reply and ask questions, beg to differ, or outright call BS. It keeps me sharp, and for that I thank you!
So to all the people looking for clarification on yesterday’s email, thank you for your reply and I want you to know:
It’s not you; it’s me ;-)
Okay, with all that throat clearing out of the way, here are the distinct themes that I foolishly mashed together in my last message:
- Price is an extremely strong marketing signal
- Buyers often equate price to quality
- Unsophisticated buyers probably don’t want to educate themselves about the features of a product or service; they’re much more interested in how the offering will make their lives better (i.e., the benefits)
Also, a lot of readers rightly pointed out that not all buyers want the highest quality option and therefore, wouldn’t buy the highest priced option.
I totally agree!
I often don’t buy the highest priced option. For example:
- When I can’t afford the highest price (e.g., a trip to the ISS)
- When I don’t really care about the quality (e.g., beer coozy)
- When I don’t value the status conferred (e.g., a Patek)
In my message, I didn’t actually say that everyone always wants the highest quality / highest priced option, but I did a bad job articulating that fact.
That said, there are virtually always some buyers who can afford the highest price option, who do care about the quality, and who do value the status conferred.
You could be that option.
Yours,
—J