Cheap Things! can price alone really keep the customers?
It’s all over the news of the new record broken and created by Apple – becoming the first ever company to reach I trillion dollar valuation.
Responding to the news, a friend of mine made a very resounding assertion that I believe every entrepreneur should allow sink into both their conscious and the subconscious mind. He said, ” Free/cheap things catch the attention but do not keep the customers. Only the quality of your products and contents do”, he said.
Thinking through the assertion, I couldn’t agree less. No matter the amount of money in your customers’ pocket, they will always look out for a critical level of satisfaction. Once the quality of your product or the value of your service is below that threshold of satisfaction, your customer will always look for an alternative. After all, there are several competitors doing and selling cheap things out there.
On the other hand, if you can efficiently satisfy your customer, even when they can not afford to pay for your service(s) they will always refer other customers and when their purchasing capacity is enhanced, they will always think your product/capacity. After all, who wouldn’t want to use an iPhone if he/she can afford it?
Irrespective of the market segment you want to serve always pay close attention to quality. It pays, it really does.