7/8/20

8:56am

#67

I could buy a $200 Cole Haan shoe vs a $40 Amazon knock off version. Which will make my feet feel better? Let’s say the Cole Haan’s are significantly better. Maybe not quantifiable to $160 more, but significantly better. Would that justify the $200? Or should you just suck it up a little bit and buy the $40 pair and hope it works out. If they feel just as good, then you’ve got yourself a steal. But people buy the $200 pair all the time. Because the value of the shoe to them is equal to or greater than $200. They don’t need to think twice. They just buy the shoe. How can you create more value for people so the cost doesn’t matter? Would it matter what price the Cole Haan’s were? I think not. They have created a product that creates so much value, they could up the price by $50 and people would still buy it. How can we do that in our own lives?

Kiubon