An interesting thing to share today!—value of the product is too important
value of the product is too important
An interesting thing to share today!
Two months ago we developed a client for a Chinese company. The company’s usual target customers are Skechers, Anta, Asics, Under Armour, Jordan, Adidas, Fila, NewBalance and so on.
I was prepared when we started working together. I must have known before we. Most likely none of their suppliers will offer the same high-end products as ours.
This will directly result in us not having any advantage in terms of price.
This habit is very clear to me, because ten years ago we did not want to be as professional as we are now.
Or rather. Ten years ago our product was just a product. Today, our products have a very high added value. I’ve always been very keen on the added value of a product.
Our company has added value. We also have the added value of being human. Whoever has high added value, he has more survival value.
At first we developed some accessories for the company. For example, ribbon, woven label, zipper and other products. When they sent us the design, we did it through our professionalism, through our study of the design, through every color, through every detail. We developed a quality for them to refer to.
I remember that during this process, the experience in charge of this project specifically told me that the price should not be high…
You know what it means when a client says something like that…
I can say with confidence that the other suppliers before them will be very price conscious and will basically follow the most common and cost-effective way to develop the product.
We didn’t start from the same perspective as other suppliers. We made a detailed inquiry with the customer.
First of all, the market positioning of the brand that needs to develop the sample is done. After having the market positioning of the product, we did the research and discussion mentioned above. Finally, a quality was determined.
To be honest, the final quality of the woven label is not our most high-end products. We have made a comprehensive consideration. We upgraded the product at a similar price. We just didn’t put price first. Not the most expensive product is the best. Because it is understood that the most suitable product is the best.
A week later, our final sample was finished. The overall effect is good. The same day, the company’s distribution staff sent the sample to the customer’s office. Together with the final quotation of course. I remember getting a call from a client at 4pm. The other end of the phone is not telling us that the order has been approved. You asked me. Why is the price so high? It’s frighteningly high.
Hear the purchasing manager’s expectations. I think her blood pressure went up. I’ll say it quickly. Relax, relax, breathe… I don’t want my clients passing out. ……
A week or so later, I got another call from the client. This is an interview with me at the company.The general manager asked me this time. We had a good talk. He asked some questions about the price. He said I was 5 times the price. Beyond their usual understanding of the price of a small woven label.
Although they said our price is 5 times higher than others, they did not deny our product. Otherwise he wouldn’t be talking to us in person.
Therefore. I told him. It’s not that our prices are five times higher than other companies. It’s that the suppliers you’ve been through before have been low-priced products.
Once a good product appears in front of you. You will think the price is very high. The essence of the truth is that your original supplier has been providing cheap products.
Later, I also explained the product in detail. From getting their blueprints, doing product research. Let’s wait. I went over the whole thing in detail.
Finally he told me the truth. A total of 7 suppliers develop products. Finally, our products stand out.
The reason why I share this experience is to share with you that the added value of the product is too important. I hope you will pay attention to it.