Own a Position

RiedelMany companies make wine glasses. A quick search of Amazon finds thousands of results. Most, like in any category, are apparent commodities and are priced accordingly. And then there is Riedel. Ranging from about $25/glass to well over $100/glass, Riedel makes wine glasses for specific wines. After all, if you’re serious about your wine, would you not want a glass to match?

This company is an excellent example of “finding a need and filling it.” And well I might add. They show that if you can understand What your customer is trying to buy, and can deliver on it, price matters much less than many would have you believe.

If you want to get higher prices than your competitors, be perceived as different from them. What can they buy from you they don’t think they can buy from anyone else? And how much is that worth to them?

Mitch

 

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