This series revisits the basics of branding and marketing by answering questions marketers, entrepreneurs and small business owners face when growing their business. I hope this series provides you with knowledge to think smarter and a nudge to make stuff happen.
What Matters Most to Consumers: Brand, Price or Convenience?
How someone feels about a business is important. The price someone pays for what they receive is also important. And how “easy” a business is to do business is important.
Brand, price, and convenience are all important to consumers. The combination of all three of these aspects separates winning businesses from losing businesses.
However, the most important factor to a customer is efficacy.
Efficacy is a fancy word to express quality. As in, how well something works (or doesn’t).
Before a business can worry about branding, pricing, and being convenient… it must worry about the quality of its offerings.
In today’s marketplace, low-quality products/services will not survive.
The cost of being in the game of business today is to offer products and services that work.
Winning businesses offer up quality products/services first. After that, winning businesses must fine tune strategies based upon branding, pricing, and being convenient to sustain success.
REVISITING THE BASICS | archive
