The deeper your understanding of customer needs, the more expensive your product can be sold at!

Introduction: The author of this article starts with the topic, emphasizing the importance of "demand" to user choice, describing the richness of demand from multiple dimensions, and explaining the "consistency" between product pricing and demand. A clear explanation can also help everyone sort out their thoughts and reshape the theory of customer demand.

1. The Importance of “Demand”

Why do all my recent articles revolve around the word “demand”?

Because we all know that from the perspective of the entire market, those who do well and make money basically make and select products based on "demand".

Don’t envy those who can make money without understanding customer needs;

Because what they rely on is just temporary luck, and usually they will fail miserably after two or three years. After all, luck cannot accompany you for a lifetime. If you don’t believe it, just recall how your friends who could make money by doing nothing four or five years ago are doing now?

The advice that Mr. Fox gives you is: Although the word “demand” seems simple, don’t ignore its importance!

Because, just the word "demand" can be broken down into many angles and dimensions to analyze the relationship between "customers" and "products";

Only by breaking it down from multiple dimensions can I help you deeply understand the relationship between "demand" and "product selection"!

If you see that my recent content is all centered around this keyword, you can tell how much importance I attach to it!

2. Multiple Dimensions of “Demand”

Demand is not just two words, it is multidimensional!

At the very least, customer demand determines what we should sell, how we sell it, and in what way we sell it.

For example:

• For luxury goods, you can’t put a small shop because customers want high-end and purchase experience;
• For gold and diamond rings, you can’t put them on the roadside, because customers want a sense of trust and a noble experience;
• For grilled steak, you can’t put a snack bar, because customers want the atmosphere and mood.
• …

Even products in the same category can respond to many types of customer needs, and different customer needs can evolve into a wide variety of gameplay.

Here is another example:

The same category of "bicycles" can be divided into the following categories based on their uses:

• Road bikes;
• Track Cycling;
• Mountain biking;
• Touring bicycles;
• …

From the perspective of the population, they can be divided into:

• Men/Women color style bikes;
• Children's learning bicycles;
• Adult outdoor cycling bike;
• Commuter vehicles;
• …

From other dimensions, it can also be divided into:

Functionally, bike size, age, folding…

At this point, if you cross-connect all these points, it will become a criss-cross, complex network;

Moreover, this is a multi-dimensional, three-dimensional demand network!

Then add a dimension, you associate the customer's inner needs, just like the examples of "luxury goods", "diamond rings" and "steaks" I mentioned above, package the products according to the customer's inner needs, and sell the products...

That’s when you’ll find a new world.

In fact, many people say that the market competition is fierce and product homogeneity is serious. There are only two reasons:

1. Your product is no different from others. Just follow what others sell.

2. The products you sell do not take into account what the customers "want". It's like you are selling luxury goods in a convenience store. You don't think about how to sell from the perspective of the customers' inner needs.

so:

• You can have as many ways of playing as you can discover the inner needs of your customers!
• The more customer pain points you can discover, the more ways you can sell!

after all:

• Everyone's restless heart is like a needle in the sea;
• Everyone has numerous problems.
• How many needles you can catch is up to you;
• How many questions you can solve depends on your effort;

In summary:

1. These tests are about the depth and breadth of your knowledge, which is the accumulation of your daily experience.
2. The so-called Kung Fu means that even if the master tells you the secret of cultivation, it is difficult for you to surpass him immediately;
3. Therefore, Kung Fu can only be acquired through the precipitation and accumulation of time. You can never take shortcuts.

3. How expensive can the product be sold for?

Through the above content, you should understand the importance of "demand".

As for the price of a product, I think there are three factors:

1. Does your product provide enough value to customers?

Just like having a meal with Buffett, it can be auctioned for more than 10 million US dollars.

In fact, it is not how much the ingredients of the meal are worth, but how much the information you can obtain during the meal is worth.

If your product can provide enough added value to customers, there will be many people willing to pay a super high price.

Just like a stone picked up by Jack Ma on the roadside, he can sell it for 1 million, because the stone is only the surface product, the value of the connections, resources and relationships behind it is immeasurable.

Therefore, if you want to sell your product at a higher price, you must bring enough added value to customers!

Fortunately:

• This added value can be packaged, just like when you buy an LV bag, why don’t you take it home in a plastic bag, but...
• Added value can also be at the perceptual level. As long as you make customers "feel" the value, they will pay for you! As I mentioned in my previous article "The underlying principle of price anchor + conversion anchor strategy", using the anchor strategy is also one of the methods.

2. How much is the problem your product solves for customers worth?

They are both toys. If your toys can only solve children's boredom problem, they may only sell for 30-100 yuan.

Other people's toys can improve children's memory and cultivate their time management skills. Toys + live courses, after giving value, your toys may be priced at 1,000-3,000 yuan;

Because all parents want their children to be smarter, toys + live interaction give the value of "play + learning", making children interested in learning and learning while playing. This is a scene that every parent would like to see.

They are both medicines, but why do the prices of a medicine for treating the common cold and a medicine for treating cancer differ?

There are many alternatives to cold medicines. You can even get rid of your cold by not taking medicine and drinking more water.

However, there are almost no alternatives to cancer drugs, and if you don’t treat them, it will be painful and life-threatening.

In addition to its scarcity, it also has the attribute of life safety, so the value of the two is certainly incomparable.

So what problems can your product solve for customers, and how much are customers willing to pay to solve these problems?

This is something you need to think about if you want to sell at a high price. Of course, you can sell at a high price not only if you solve problems like cancer. This is not a problem that ordinary people like us can solve.

But there are a lot of similar customer pain points. If you can’t find them, you can look for them in Teacher Fox’s 500,000 pain points table, or you can read my previous articles for inspiration.

3. How much are your customers willing to pay you?

The customer group you choose is very important, that is, the paying ability of your target customers determines how much your product can sell for.

If your chosen customer group is college students, it may be difficult for you to ask them to spend several thousand yuan to buy a product, of course, except for some special categories of products.

But if you choose a boss, it is normal to ask them to buy a product worth 3,000 to 10,000 yuan. As long as you can solve the problem and provide enough value, they can easily pay!

By the same token, if your customer base is parents living in rural areas, it would be difficult to ask them to buy a toy worth 1,000 yuan.

But if you sell toys worth 1,000 yuan to parents in first- and second-tier cities, it will be much easier because, in addition to being relatively wealthy, they are more willing to invest in their children's future.

To make products with high customer orders and high profits, you have to screen accurate customers. Only by choosing the right customers, those who have the ability to pay, can you sell products with high customer orders. After all, products with high customer orders are not mass products!

IV. Summary

This article basically ends here.

The purpose of writing this article is to tell you:

1. The importance of in-depth research on customer needs!

2. Customer needs are multi-dimensional, not the "single dimension" that some external materials teach you. People who only see "single-dimensional customer needs" are destined to only sell at low prices and sell superficial products!

3. How expensive a product can be sold for depends not only on how much value you can provide, but also on how deeply you dig into the needs of your customers, which in turn depends on your experience and accumulation. This is the so-called "Kung Fu"!

Author: Little Fox

Source: WeChat public account "Fox Loves Nonsense"