Golden but modest

Polska wersja

Does this happen?

Rather rarely. It’s usually the result of someone’s mistakes.

Other people’s mistakes are good because you can learn from them just like you can from your own, without suffering any negative consequences.

Let’s take a look at one product that turned out to be „gold and humble”.
Ferdynand Piech (grandson of Ferdinand Porsche, the founder of Volkswagen) wanted to make his magnum opus before retiring. The result of his efforts was the most luxurious limousine of its time, the VW Phateon.

Unfortunately, fans of the brand interpreted it as a slightly souped-up version of the VW Passat. According to this idea, they were also willing to pay for this car. Nothing unusual. At that time, the Volkswagen concern owned brands such as Bentley, Bugatti, Lamborghini and Porsche bearing the founder’s name. It was reasonable to expect that if Volkswagen wanted to build a luxury car, it would sell it under one of the brands mentioned.

So the most luxurious limousine in history was sold at prices slightly higher than those typical for average cars.

The situation was saved by entering the Chinese market. The specific cultural, political and economic conditions there and, above all, the undefined position of European car brands on the Chinese market, which is barely open to foreign products, allowed the brand to be positioned from scratch, based on authentic quality. Thanks to this, we managed to turn Phateon into a profitable product in this single market.

What’s in this lesson for you?

You won’t necessarily have an emergency market like China for Volkswagen. Honestly, it was a very unique situation. Therefore, it is worth using clear signs when communicating with customers.

Another person’s mistake can create a hot opportunity. I’m not saying that you should buy a VW Phateon right away. Several years have passed since its premiere. New, better solutions have appeared, others have become obsolete. In some ways, today’s low-end products are better than the best products of yesteryears.

Here and there there are niches where gold, but modest, is valuable. Let’s take bishops for example. It will be similar with many other „vocational” professions.

On the one hand, it is not appropriate for them to have a luxury car.

On the other hand, supervising the diocese means having to travel frequently from parish to parish. Long hours spent in a car justify greater comfort than expected by the average car user, who uses it to take up a space in the parking lot next to work and, after a short break from standing, to use the space in the garage.

For them, creating a luxury variant of a product within a standard brand is like salvation. Golden but modest. The product in the Pro-phet variant is gold that does not shine. As a further consequence, more complex market concepts can be developed. Each of the identified customer groups can be an attractive market. Classification example below:


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