Leadership Mindset: What really counts…
- Double Discount
– Why will you will never take this double discount and yet buy at full price for the very thing you need?
– Your family doctor charges you the same exorbitant price. No discount. – -Well if they say, the entire family 20% off and Extended family too 50% off!
– Buying a fire extinguisher for your house which has expiry at every five years…will you try to bargain to get it at discount as year after year it is still unused?
- Who gives discount and why?
A. Food Industry
– Products are on the verge of expiry
– Short shelf life
– Changing seasons
Note: The vegetable vendor gives out only 450 gms in the bargain of 500 gms at steep discount price.
B. Retail Industry
– Inventory turnover ratio
– Dead stock
– Changing Trends
C: Online Ecommerce Platforms
– High footfalls
– Economies of scale
– Cashing on festives so that people buy out of wants and not needs
– FOMO on EOSS sales and irresistible dhamaka offers
Note: If you see your favourite watch at 80% discount, you will buy two where you don’t need even one. I did!
D: Rest of the World
– Can’t bridge the demand supply gap through value creation
– Can’t justify the value creation
Note: The tomato seller who won’t budge with his price and has the reddest tomatoes in the vegetable market.
- Difference between SME and Brand Leaders
Buying a Ferrari, date at Taj and holiday stay at Ritz Carlton… while dreaming these dreams, do you factor in deep discount?
Irony: Needs and wants at steep discounts and luxury at no discounts.
- Leadership Mindset
– Hold your ground. Protect you turf.
– Bank on your past body of work.
– Communicate with authenticity.
– Give performance and showcase capability.
– Discount should be a very very short-term measure.
Note: Highlight clear benefits with discount version and without discount. So that the value is underlined. Easy to switch for them. Build Leadership Mindset.
Build your Tribe
Pick and choose your tribe who
Buys for occasion
Buys for value
Buys for real need and not just for show off
What do you recollect…the discount percentage or the experience when the product performs or is dysfunctional?
What counts cannot be counted and definitely not discount!
Give value and get value. Everything else will fall in place.
Shield from flimsy money
Build on Value
Lead with Zillionite
–Shweta Vora, Founder of Zillionite