Alan Weiss’s Monday Morning Memo® – 04/10/17
To some, this is counterintuitive, though it shouldn’t be: Competition opens markets. Wendy’s builds burger shops across from McDonald’s because they know people are showing up to buy burgers. The same holds true for jewelry stores, casinos, and auto showrooms.
In mass markets, there are two basic positions. You can choose to be a commodity, seeking lowest price points and high volume, undifferentiated and trying to appeal to all. Or you can choose to be distinct, seeking highest perception of quality at a higher price, appealing to a select percentage of the market.
This principle applies to most of our lives. Do we want to “raise the bar” or “dumb down” our approaches? Do we want to be lost in the herd or a maverick? Should we be blown over by the storm or taking life by storm? The irrefragable fact is that people always seek a deal when perceiving a commodity, but will alway brag about having obtained distinctive value.
Do people see you (do you see yourself) as someone with a lable of “left” or “right” or “up” or “down,” as part of a huge undifferentiated herd lowing the same song as others, or do the see you as a beacon of high standards and independence shining in the night? No one goes into a McDonald’s to browse. They’ve made their decision. Life should involve more discernment than a drive-through meal.
Reality leaves a lot to the imagination. —John Lennon