As entrepreneurs, consumers or customers are the most integral part of blooming of the business. Consumers have a general tendency to prefer expensive commodities because of the notion that pricey things are good. Nevertheless, they sometimes get disappointed by the fact that the expensive items they buy, are actually cheap in value. What makes your business worth? Is it the price or the quality of your products?
Entrepreneurs ought to ask themselves what makes their products and services worth and what they are asking their customers to pay.
As a case study, let's consider the CEO and Chairman of Starbucks Mr. Howard Schultz who stepped down from his role in order to develop “the $12 cup of coffee,” as he calls it.
We may ask, what makes…show more content… You might get tempted to change what you are doing in order to appeal to or provide a lower price. Never ever do that. Keep your focus steady. Be confident no the quality service and products you offer your clients.
Always be transparent about the mission of your company and weave it into everything you do, internally and externally. Do whatever you do, and do it with enthusiasm. Bring your customers on board with you as you make the world a better place via your business. Offer exceptional service to your clients that add tremendous value to their lives. Your customers will automatically notice and that is part of what will definitely make them keep them coming back to you always.
Identify the pain point of your customer and always stick to it.
You will become a problem solver when you can sit down with your clients and asking them what may seem to be giving them trouble or asking them their pressure points where they look like they need your help. Doing this will guarantee you of their trust, and you become invaluable to…show more content… It is at the forefront of the rise in coffeehouse popularity. It is the same reason that they are doing so well. They offer a quality product to clients who are willing to pay an extra amount than the common price for something that gives them a positive experience to their life.
Warmth and competence are the components that create a successful brand in the end. Malone and Fiske argue in their book, The Human Brand. Starbucks and Apple could both be described as warm and competent. This is because they are both known for their exceptional customer service delivery and premium products supply.
Therefore, despite the fact that Starbucks and Apple are the more expensive options in their markets of coffee and smartphones respectively, they beat out the competition by offering an outstanding experience for their clients.
There will always be competition, and that is the reality of sales. However, if you can stick to why you do what you do by focusing and strategizing thoughtfully, the pain of ruthless competition is reduced. Do not quit or chase a competitor in your field. Find your premium offering and win your customers in an unforeseen