If I gave you $40,000 to go buy a new car, you’d probably go away, scan the car yards and come back with a few options.
You can pretty much guarantee a certain level of safety standards, fuel economy and performance.
Unless you’re looking at Luxury Cars the car itself is a commodity. You buy it for the brand; experience, status…
This is the exact play that firms are using once their product slips into the commodity category.
You see when everything else is the same firms need to focus on the marginal value, the base value is assumed (safety, fuel economy, performance) – but what is the secret sauce? It may seem trivial but it’s the little things which can swing consumer preference.
You need to focus on that marginal value and stretch it, reposition it, make it meaningful to your consumer base.
Clearly the experience is a start, is being your customer a real experience worth sharing?
Photo Credit: Alex4981