Know what you’re selling
It was Friday night and I was having a drinks with colleagues who were discussing the relative taste profiles of various beers. I went on challenge the crowd that they wouldn’t know which beers was which in a blind taste test. None of them believed me.
Turns out it’s true. I once worked in a marketing role at Fosters, and 90% of beer drinkers cannot pick any brand within the same type (eg lager, pillsner, bitter ale). Beer is not bought on taste, it’s bought by brand. Sure, there are other factors which come into the decision like availability and price. But both trail and subsequent loyalty is never about taste.
So we have to know what we are selling. Not in the primary sense (the physical product) but in the secondary sense, the real motivation which makes us choose brand A over brand B. And in most categories it’s not what it seems
Beer = fashion
Electricity = company interactions
Coffee = socialisation
Cameras = memory library
For entrepreneurs the message is simple, we must know what we are selling. It’s most often how we market the secondary benefit which will drive our brand over the competitor.