Marketing Mix: Prices are stories

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The difference between an R15,000 pair of designer shoes and those you can buy at Mr Price for R300, is not only the quality of the materials.

The prices we pay or charge are not just stories about value.

Prices are stories about intentions and expectations, not just on the part of the customer, but also on the supplier.

When you buy a R15,000 pair of shoes, you are not just buying shoes, you are buying a story, you are making a statement. A statement about how you want people to perceive you.

Customers make assumptions about what they are buying based on what they pay, and sellers make assumptions about the kind of customers they will attract with a particular pricing strategy.

But price alone is a crude way to sort your right customers from your wrong customers.

Just because someone has the money to pay what you are charging, does not mean they are your ideal customer.

If you get to choose what you work on or make, you also get to decide who to serve.

What are your criteria for choosing the customers and clients who allow you to do your best work, and make it joyful into the bargain?

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