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This Classic Marketing Lesson Is Flawed
The first piece of advice a mentor gave me eight years ago changed my view of marketing forever. He explained why price does not matter in a transaction.
“Nobody buys on price,” he said.
It’s a favorite mantra propagated by sales and marketing gurus everywhere. I later learned that my mentor’s advice was partially right. I came to that realization after two experiences several months apart.
The first experience occurred seven years ago at a 7–11 of all places. I had frequented this store each day around 2 PM for an afternoon snack. I kept this routine up for over a year. Then I found I can buy my snack in bulk and save about 30% off the price 7–11 charged.
I had run out of my stash, so I made my way back to the 7–11. The owner was a friendly man; he always said hello and chatted with his customers. When I walked in after my self-imposed exile, he said six words which imprinted a critical lesson in my sales and marketing life.
“Hi, haven’t seen you in a while.”
His tone was friendly, not accusatory. I doubt he kept a chart of my visits. But I panicked. I had been cheating on him and he caught me. I felt like I was a child caught with his hand in a cookie jar. I did the only thing I could do. I lied.
