Booklets - How Do You Want to Be Known?

While recently shopping at a nearby factory outlet store mall, I walked into a well known brand name shoe store to see what they had for sandals. I’m all about getting the best quality I can for a price that makes sense to me, in general in life. Sometimes that’s a lower price or a mid-range or an upper end, based on how I assign value.

What I saw caught my attention, enough to share it with you here. Most of the sandals were priced $74 on the box. Generally, (though not always) that’s more than I would be inclined to spend on sandals. However, throughout the store, the dozens and dozens of open-shelf stored shoe boxes and the displays of sandals indicated 60-80% off.

It got me wondering about the whole psychology of it. It wasn’t the end of the season, so it was not that they were attempting to dump the inventory. And the brand name tends to be on the higher end of mid-range prices in the shoe industry. A conflict in positioning from my point of view. I haven’t researched this at all to find out what prompted this.

Then there’s a computer repair and components place here in San Diego who prides themselves in being the low-priced leader.

And I know an electrician in New England who has always positioned the company as high-priced equaling high quality.

I’ve read, and you may have, too, that it’s a tough road to lead on low price. Something gets sacrificed along the way, in human cost, cash flow, product quality, or something else. Walmart attracts a certain customer that’s very different than Nordstrom’s. Yes, I know that’s an amazing grasp of the obvious. However, it can be easier to consider when removing the example to something completely outside your own everyday ponderings for your business.

Where do you want to be? How do you want to be known? I’ve changed my pricing structure many times in the years I’ve been in the tips booklet business, experimenting to see where my current market is situated. It’s been an eye-opener several times. Just when I think I’ve found the “sweet spot,” something changes. How about you?

Until next time,

Paulette – finding so much to learn from out there in the world

www.tipsbooklets.com

www.CollectionOfExperts.com