Understanding Why People Buy $4000 Shoes Will Change Your Marketing Strategy
It helped me understand my customers and revolutionize my firm
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During university, one of my classmates was the son of a fertilizer industry billionaire. Once we were in a marketing case class, analyzing the case of a certain jeans brand whose trousers cost more than $300.
This wealthy friend told me:
Whoever buys jeans for 300 dollars has a serious need for something else, not only for jeans. I would never pay so much for a pair of trousers.
It amused me that this phrase came from the mouth of a billionaire. But the point was right. Nobody who buys a pair of jeans with a price tag 900% higher than any good quality competitor, only wants a piece of clothing. Maybe you already have a few ideas about why people spend a salary on a jacket, trousers, or watch. Things like quality, durability, design, or customer service come to mind…
