… price, service or quality. You should know the answer to this question.
You cannot be all things to all people. Customers will always consider price, service AND quality but will have a preference for one of these. You should know what the answer is for your business.
Speed versus endurance. F1 motors will last 7 races or 2,500 kms. But F1 cars won’t take you through a river or up a mountain. Both cars have gearboxes, differentials and fuel tanks but they have a different emphasis. Where’s the emphasis in your business?
You need to clarify for yourself where you are aiming. What your customers, your preferred customers, are expecting of you.
A detailed quotation that takes a week to turn around may be too long. A ball park figure or a standard price may be preferred.
A great coffee that takes 5 mins to prepare might not cut it.
A cheap carpet laid a day late could infuriate some people.
Some people look to pay more because they need to have confidence in what they are getting. Others can wait and put up with issues. You can’t effectively serve both types of customer. Pick one. If you sound like you’re selling an ‘impossible utopia’ you will lose credibility with savvy people. [Image Source: https://onlineinfluence.com.au/good-fast-cheap/]
If you are competing on price you need to set expectations around service so that you can meet those expectations and know the customer is happy to buy under those conditions.
If you are providing great service, you need the right resources and people to do that consistently so you will need to charge more. Same goes for great quality.
All of this is possible but you need to know where you and your team are focussed. These may be a hard decisions but it will make everyone’s life easier once they have been made.
Don’t try and be all things to all people. It does not work. Price, service or quality. Pick one and focus there.
