This morning I opened a new pack of undershorts that Joanne picked up for me. Wow – six pairs of new Jockey shorts. Out of curiosity I asked her what she paid for these. She said it was $5.99 for the pack of six. Okay that’s $.99 each – and these babies have double stitching, a variety of colors, the extra overlap for the trap door that we guys need – all in all just a real classy piece of workmanship.
Then I asked her what she pays for her panties. She said normally $8-10.00 each. Of course those are much simpler in design – no trapdoor needed. Just a bag with a couple of holes in it. Half the fabric, half the double-stitching, a touch of lace and you’re done. Now I may be oversimplifying the issue here, but why are they ten times as much money?
It’s because for guys we’re talking about a necessary and functional item. For women it’s a matter of style and grace and beauty. I’ve always told people:
[bctt tweet=”You can make a living selling things that people need; e.g. washing machines, transmissions and light bulbs. But you can get rich selling things that people want – chewing gum, vacation trips, motorcycles and ladies panties. ” username=”@48daysteam”]
People don’t “need” my books. But I sell hope, inspiration and imagination that just happen to be packaged between two book covers. People “want” that. Why is a piece of “art” $1500 when it’s just a single piece of canvas and a few tubes of paint? Why is the base price for a new Bugatti Chiron $2,998,000 while the new Nissan Versa S Sedan lists for $12,780? Because one is transportation and one is a statement of affluence.
It sounds like an elementary business concept – but what about you? Are you selling what people need or what they want?
Are you selling sensible stuff
Or maybe you are selling fluff
Are you just leading
To things they are needing
When they want to purchase the puff
Both… but you make me think…How am I marketing it? Gurr Marketing. I know I need to embrace it. Thank goodness I keep growing enough to need to adjust my prices appropriately but I still do that off meeting their needs. I meet their ‘needs’ and they tell friends and then I meet theirs and get too busy and raise my price. (I was a nurse for over 20 years before I coached and every goals was about ‘Meeting the patients needs’ this post is tempting me to adopt aI needed paradigm shift…there is nothing wrong with providing the things that others ‘WANT’ too… (I’m sorta speaking that to let the thought soak in.) Thanks Dan. Great blog.