Brands are defined by the economic, emotional and experiential value they provide to a consumer. If you can’t match the attributes of your brand to those requirements for value, consumers won’t buy it. Cost is a critical element.
No matter how much you spend on expensive TV commercials that the agency says will reach the most consumers and create awareness of your product the quickest, if a consumer cannot afford your product, he won’t buy it.
It doesn’t matter how much you spend positioning your product in the mind of consumers. If those consumers can’t afford your product, they won’t buy it.
Even if you manage to completely differentiate your product from other products, if a consumer can’t afford your product, he won’t buy it.
2 thoughts on “If a consumer cannot afford your brand, he won’t buy it”
Well said Marcus. Endorse your views.
I guess agencies are misunderstood by most. They think agencies have magic wands, that can do everything for them. They think that ads can solve their problem. Ads only function to inform and persuade. The success factors in selling are also dependent on business decisions such as price, quality, service etc. I agree with your comment, but truth is, agencies are not to be blamed. I, for one, never sold it that way to my clients.