Articles / Price / Recommended Reading / Theory

How to Stop Customers from Fixating on Price

Image credit: http://hbr.org/

Image credit: http://hbr.org/

How to Stop Customers from Fixating on Price
Marco Bertini and Luc Wathieu

Harvard Business Review
The Magazine, May 2010

At a consumer products company we’re familiar with, no one on the senior team would ever refer to the company’s products as “commodities.” Managers there know what the competition has to offer, and they know their goods are different. They can name the distinctive features and explain their value—and they can tell you how much they’ve spent on innovation to keep that edge.

The problem is, their customers don’t seem to have gotten the memo. Faced with the many options available to them on store shelves, they behave as though only one factor matters in the buying decision: price. They treat the company’s products as commodities.

(read more)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s