There arent anymore good ideas

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Originally Posted by EtherLotus

The only way to get more customers, is to cut prices.

If you cut prices you're losing money.

It took me a while to calm down enough to respond here...

My business sells product that is not the most expensive in the industry, but we are close. My type of product is sold in all kinds of stores, including discounters, for pennies on the dollar compared to what I charge.

Oh my! How can I stay in business?

By targeting professionals who use this product to make a living. They value the service that I bring! Not all "professionals" will pay my prices, but many do.

Etherlotus... If your view of business and marketing is that narrow, you had best go to work for someone else.

Price and value are two entirely different things...

Chip and Craig I couldn't agree more. Only large companies like Wal-Mart can compete on price and admittedly there are people who look for whatever costs the least.

But even they are buying based on value. The shop for the lowest price because they don't see the added value another store might bring.

People buy based on value or their perception of value. Most will happily pay more as long as they believe they are getting something of value for the extra they pay.

And oddly enough many people assume the higher the price the more value the product or service has. There are many examples of businesses that only made sales (or at least significantly increased sales) after raising their prices.

Im glad you mentioned WalMart.. because who are people going to choose, WalMart or the new guy they've never heard of? Not to mention, WalMart can afford to sell for less.

[AffiliateHookup]

EtherLotus...

I think that you missed the entire point of the discussion!

Who are people going to choose? It depends. You are right, WalMart CAN afford to sell for less. You need to give people a reason to buy from you, other than price. What other value can you add to the item?

I am going to be blunt here, and it is nothing personal...

With that attitude, you are right! Nobody will choose you over WalMart, so do not bother to start your own business. You will never succeed if that is what you are thinking.

EtherLotus I agree with Craig here. I think you did miss the point of where this discussion has been going.

Yes some people will choose Wal-Mart and always will. But not everyone shops at Wal-Mart. The new guy will need to offer something else of value, which could be as simple as a more enjoyable shopping experience. Some people will happily pay more if they know and like the owner of a small shop.

Boulder, Colorado where I live as a community generally prefers to shop at local mom and pops instead of big retail chanins. Many chains like Wal-Mart have never been given permission to build here. There are chain stores here, but less that elsewhere and most of the people in town would much rather pay a little extra for the mom and pop experience.

Not everyone shops at the Wal-Marts of the world or shops there all the time. For me it's a 25 minute drive to the nearest one. Sometimes I will go there to buy some items for me don't get any extra value from a different experience. A can of soup say or toilet paper. If I happen to be in the area I'll stop in at Wall-Mart and grab a few items, but most of the time I spend a little more to buy them at the local supermarket in town.

Keep in mind too that while Wal-Mart sells a lot of things they don't sell everything.

[deckeleven]

Personally I don't shop at Wal-Mart and never have. Yes they could possibly save me some money on some items, but the stores are too big, too crowded and their service, at least in my town, isn't the best.

People don't always shop based on price. I tend to take my business to the places that give me really good service. I'm willing to pay a bit more to a store that allows me to acccomplish what I need to accomplish quickly, without fighting crowds. Lots of businesses make their mark by providing superior service.

I think maybe a more apt title for this thread might be there aren't any (or not many) ways to make a lot of money quickly. The days when someone could burst on the scene with a new idea or product and generate millions in sales in a few weeks or months are pretty much gone. It takes time to develop your business and to get customers. Growing a business isn't for the faint of heart. It takes dedication, long hours, and a willingness to believe you will succeed when success seems very far away.

There are always ways to succeed. The trick is having the tenacity and the courage to find them.

Good points Kristine. And I think there are many other people like you who won't ever shop at Wal-Mart. Many people don't like their policies in regards to how they treat employees. So a store that opened up nearby that while charging more, but treating employees better might be one that could succeed. It would probably depend on the location and how much the people in that area see Wal-Mart as an 'evil' company.

If it was true that you couldn't compete with them then you'd only see one store in every town which would be Wal-Mart. The fact you see other stores offering the same products in the same areas as a Wal-Mart should be proof that Wal-Mart's way isn't the only way.

Yes some people will only see the value in saving more, but many will see value in things like better customer service, and less crowds, and more quality.

What are you talking about?
This forum, and the software that runs it, was a new idea.
The computer and the way it operates, was a new idea.
And the internet has given us the opportunity to execute old ideas in new ways.

Most of the time its not what you are selling, its how you sell it.

You think Ron Popiel (and I hate to keep bringing him up), had the only onion chopper (The slicer dicer) on the market? No! He came up with a new way to sell it. (Late night TV)

"What about the new undies for men that act like a bra, now that was one of the best ones ive seen and they are selling a ton of them."
You mean "The Bro"? I saw that on Sienfeld! Someone is selling those? WOW!

Walmart was a new idea!

[cavachai]

Originally Posted by vangogh

Chip and Craig I couldn't agree more. Only large companies like Wal-Mart can compete on price and admittedly there are people who look for whatever costs the least.

But even they are buying based on value. The shop for the lowest price because they don't see the added value another store might bring.

People buy based on value or their perception of value. Most will happily pay more as long as they believe they are getting something of value for the extra they pay.

And oddly enough many people assume the higher the price the more value the product or service has. There are many examples of businesses that only made sales (or at least significantly increased sales) after raising their prices.

I mostly agree with this. Wal-Mart has a niche for pretty much the absolutely lowest cost products around. Target focuses more on style and quality at low prices. My opinion is that people shop Target more for value, and Wal-Mart more for price.

You are absolutely right about things being relative. People might shop Nordstroms because they feel it is a better value than Macy's. To them the brands and selection are what they want, and the prices are reasonable. Someone used to shopping Wal-Mart or Target might have sticker shock at Nordstroms. Their perception is based on their experiences and spending habits.

In the end, I believe that the majority of people with a choice will choose value. This assumes that the cost of value is "reasonable" (another very relative term) when compared to the alternatives.

[onistaxu]

Now hold on one sec.... Since when is walmart the end of all things business? I think a lot of it depends on what area you live in. We have a walmart up here, and yea, I go to it for the things that I need cheap... but if I'm after quality, there is no way in hell I'll go to a walmart. I know that whatever I buy from walmart will fall apart fairly fast. I grew up in a snobby area of town (Bellevue) and most of the people who live there wouldn't be caught dead in a walmart. They would much rather get something higher quality with better service from the boutique down the street, or from the higher end store.

A good business is NOT about having the lowest price. I absolutely HATE going to a walmart (mind you I still do if I need cat food or toilet paper). All the people, the fact that you can't get anyone to help you if you need it, and just how rude everyone seems (not that I blame them).

Last year we were in a walmart and there was a lady having a seizure in the store. Not a single employee or customer stopped to help until my husband drug someone over to help the poor woman. People know and expect this kind of service at a walmart, but it doen't make it right, nor in my opinion does it make it successful.