Friday, April 17, 2009

The land of "good enough"

Have you ever noticed that when money is tighter we find ourselves making different choices and throwing our brand preferences out the window? During a recent grocery trip I noticed a new brand on the shelf called “Big Red”. It wasn’t the most expensive brand, nor was it the cheapest. The packaging was appealing, it looked like a quality product and I found myself saying “good enough!”. I had heard about this theory from Seth Godin, marketing guru, and I am a firm believer that sometimes good enough, is well, good enough.

It made me think about my clients and whether they are offering a “good enough” product in their product mix (in addition to their higher end offerings). Middle of the road may sound boring to you, but there is plenty of demand for “good enough” products that won’t blow the budget. Think of the example of razor blades with their ever increasing number of blades, moisturizing strips and ergonomic handles. Between the $20 razor and the $1 disposable razor that leaves your legs looking worse than when you started, there is room in the middle for that razor that is “good enough”.

The same thinking can apply to the size of your product. Offering a smaller size is an excellent way to lower the cost and provide customers with what they are looking for. Have a look at your products or services and see where you can add-in affordable options.

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