Oct 27, 2022
Features Lead to Overpaying
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.
There's an example of a company that's a manufacturer and one part of their manufacturing process, they use a metal type spring. And there are trace levels of titanium in those springs, trace level–trace level of titanium. Now their competitors will advertise, hey, there's titanium in our springs, one of the strong metals, one of the strongest components in the world, and we have them in our springs. Well, this other manufacturer buys their springs from the same exact place but doesn't want to say that there's titanium in them. I said, why? You know, because there's trace levels like they really put them in, it's not really a proprietary blend. We buy our stuff from the same place there, we have the same level of titanium. I said, yes. But your customer would appreciate hearing that because there's an implication of quality craftsmanship. And he says, Yeah, but I don't like I don't like that. So he's chosen not to talk about it, even though it's in there, even though it'd be something that his clients would place a high value on. It would be another ingredient. Another feature. Okay, another feature that would lead to somebody possibly overpaying for their product or service, he's chosen not to do that.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.