July 15, 2010

Apricots

I belong to those people who believe that it is necessary to walk a lot and look around to understand a city and its people and to experience the developments in that location.

Two weeks ago I was in Sofia to give one of my seminars  which we had organized again together with the Bulgarian Chamber of Commerce and Industry. I visit Sofia regularly once in a few months. Just like in my previous visits, I walked through the open bazaar near my hotel. This bazaar has around 40 counters, mainly selling fresh fruits.

I noticed that most of the counters had apricots on sale so I started to look at the prices. I saw that some new marketing methods were applied in that open bazaar of fruits. In my earlier visits I had observed that prices were generally given in Leva with one decimal point (like 1.1, 1.3 and 2.7). Now, half of the counters had 2 Leva/kg as the price for apricots and almost the other half had 1.99 Leva/kg as the sales price. The sellers on the counters were trying to benefit from the perception mannerisms of the consumers. Just as I was preoccupied with this thought, I came across the single counter in that bazaar, where the price of apricots was 2.50 Leva/kg.

After my short tour of the bazaar, I returned to my hotel with 1 kilogram of apricots. To protect myself from your comments, I will leave you to imagine the price I paid for my apricots. :-)

Sales of company shares is a marketing issue. When we talk about marketing, we have to be able to express the differentiating points of our products and services in comparison to other similar products and services. Moreover, we need to state the benefits that these differentiating points present to the potential buyer. Why should the potential acquirer buy our company shares instead of buying the shares of another company? This is one of the main points that we work on in the projects that we handle.

During our lives we only invest in those products and services, which we think will bring us personal or institutional benefits in short or long term future. If a lot of people and establishments supply the same benefit, then the value of this benefit starts to decrease. On the other hand, if we are unique in supplying a certain benefit, then the value awarded to us increases.

We cannot always be sure that these benefits will be realized. What is important is that they are perceived as such.

PS: The apricots were delicious.

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