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Low cost

It might be a concept you don’t like, because of its implications. But I’m sure you buy low-cost products/services as well, it can be food, tourism, professional services, clothing, or many others. And you don’t feel that bad, and maybe you think that you are already getting enough quality for your expectations and budget. So if you are setting up your new startup, and established competitors have high prices, why don’t you market yourself as the low cost option? In many cases, people would understand it better. We are like [big brand] but cheaper and more flexible because we are starting. Most of the innovations in history started as the low cost option, because it turns out that clients don’t need or even care about most technical specifications. They just want what they need, nothing else. Big companies sometimes forget they have clients and start adding attributes to products/services almost no one is willing to pay for. Certainly, not everyone will buy from you, but you just need to convince the earlyvangelists … Good luck!

Written by Diego Bartolome

08/11/2012 a 09:14

Publicado en Entrepreneurial thoughts

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