As consumers and marketers what we have come to realize is that you can't have it all. SERIOUSLY! No matter if you are a multimillionaire or have limitless resources, it is impossible to have it all. The three absolutes when considering a purchase is 1. great customer service, 2. superior quality product/service, or 3. lowest price. In any purchasing decision, one of these elements must be sacrificed. The question is, where do your service or product offerings lie with respect to this triad dynamic? Are you company that offers great customer service and product, or low price with great product? No matter how you slice it, if your goal is to generate wealth, then price should never be a part of the equation. Particularly in the service route of the fitness industry, each minute of service time must be maximized financially. Time is literally money, which is why positioning your business effectively is key. Determine your areas of specialization and charge a premium for this service, and at the other end of the spectrum you can sell small informational pamphlets and booklets for a minimum price. These brief publications serve a twofold purpose, as a marketing piece for your premium products and as a means of expanding your marketing reach to those they may no have the means to afford premium prices. It also critical that you position your company as an authority in the particular subject matter. Remember to sell the car, the parts, and souvenirs. Not everyone can afford a Lamborghini, but many can afford the Lamborghini T-shirt.
Sunday, March 22, 2009
Make Them an Offer They Can't Refuse
The Marketing Triad
As consumers and marketers what we have come to realize is that you can't have it all. SERIOUSLY! No matter if you are a multimillionaire or have limitless resources, it is impossible to have it all. The three absolutes when considering a purchase is 1. great customer service, 2. superior quality product/service, or 3. lowest price. In any purchasing decision, one of these elements must be sacrificed. The question is, where do your service or product offerings lie with respect to this triad dynamic? Are you company that offers great customer service and product, or low price with great product? No matter how you slice it, if your goal is to generate wealth, then price should never be a part of the equation. Particularly in the service route of the fitness industry, each minute of service time must be maximized financially. Time is literally money, which is why positioning your business effectively is key. Determine your areas of specialization and charge a premium for this service, and at the other end of the spectrum you can sell small informational pamphlets and booklets for a minimum price. These brief publications serve a twofold purpose, as a marketing piece for your premium products and as a means of expanding your marketing reach to those they may no have the means to afford premium prices. It also critical that you position your company as an authority in the particular subject matter. Remember to sell the car, the parts, and souvenirs. Not everyone can afford a Lamborghini, but many can afford the Lamborghini T-shirt.
As consumers and marketers what we have come to realize is that you can't have it all. SERIOUSLY! No matter if you are a multimillionaire or have limitless resources, it is impossible to have it all. The three absolutes when considering a purchase is 1. great customer service, 2. superior quality product/service, or 3. lowest price. In any purchasing decision, one of these elements must be sacrificed. The question is, where do your service or product offerings lie with respect to this triad dynamic? Are you company that offers great customer service and product, or low price with great product? No matter how you slice it, if your goal is to generate wealth, then price should never be a part of the equation. Particularly in the service route of the fitness industry, each minute of service time must be maximized financially. Time is literally money, which is why positioning your business effectively is key. Determine your areas of specialization and charge a premium for this service, and at the other end of the spectrum you can sell small informational pamphlets and booklets for a minimum price. These brief publications serve a twofold purpose, as a marketing piece for your premium products and as a means of expanding your marketing reach to those they may no have the means to afford premium prices. It also critical that you position your company as an authority in the particular subject matter. Remember to sell the car, the parts, and souvenirs. Not everyone can afford a Lamborghini, but many can afford the Lamborghini T-shirt.
"If it doesn't make dollars, it doesn't make sense!"
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