Why Do Some Products Catch On and Others Don’t?
Products and services get stuck in an apathy zone. This is a place which exists between the most pleasing experience regardless of price and the easiest experience which is also the cheapest. Some people have to have it no matter the price and others want it at the lowest price possible. Products and services that are tepid, neither super great nor very cheap and easy to obtain . . . these products languor and die. No one buys them.
Two Extremes Succeed.
An Ego fed product or service which is the total experience is a luxury. People naturally search for ways to identify their socio-economic position in the world. The super-rich do it with luxury. The second example is convenient or how easy it is to get something . . . with the caveat of a low cost. Cost is a factor for the simple reason that if something costs less it is easy for people to buy. Easy is easy to follow and to buy.
There is an exchange.
Between the two extremes of Ego fed and Easy there are all sorts of variations and degrees. Business successes from Amazon to the .99 Stores show that a successful company can’t do both. It can’t provide it’s customers with the luxury Ego Feed and cost savings of Easy to Follow. (Amazon does try)
Mass Luxury? Impossible!
Mass luxury is a fallacy. The mass of people are concerned with ease and cost; luxury is about the total experience regardless of the cost. They can’t co-exist. Yet, some people when developing new products and solutions attempt to be Janus faced. They want to feed both Romulus and Remus.
Customers move from one extreme to the other.
Customers continually exchange ego for convenience and vise versa. Decisions, choices, and an uncertain future –that is — life . . . means the customer is always either moving up or down the scale toward more luxury or more convenience. This is a constant trade off that is not static and is never fixed.
Technology is the Kicker.
Technology constantly improves both the luxury experience-ego feed-and also the ease and cost-easy to follow. If a product or service is Ego fed, then tech will change it to easy to follow.. If it is convenient, then tech will change it to be more convenient.
The place between luxury and convenience (ease + cost) might be called the doldrums This is a no-man’s land between the total experience and the cheap quick fix. No one gets excited about a product that has no Ego feed and is only somewhat convenient. If you run a company, don’t get caught there. Don’t be tepid. All successful products and services fall at the ends of the scale between these two extremes, not in the middle. Don’t be tepid.
Get excited! Blast off with new ideas, products and solutions.