Even in these tough times, some things, it appears are worth paying more for.
A recent qualitative study commissioned by 3M through msl inspired (the qualitative division of Marketing Sciences), has revealed that despite tough economic times, many UK businesses continue to find it worth spending a little bit more money to get precisely the right product.
We are constantly told in the media that UK business is cutting back, spending less and taking stock, but this study shows a rather different pattern exists in many businesses. For some, the critical question is not “how much does this cost”, but rather “is it suitable for our needs”? The result of this is that many businesses continue to spend more money on products such as Post-It Meeting Notes than one may expect in these difficult times.
These products were found to address many of the key areas of frustration: the need to move back and forth to different sheets, messy & uneven tearing of the sheets and damaging walls with blue-tak. In spite of the increased price, users feel comfortable in the higher investment levels since the sticky flip charts, such as the Post-It Meeting Notes offer increased time efficiency, less wastage, less ancillary purchase and less damage.
“My thinking is that when you think about the fact that you don’t need to buy blue-tak and that you don’t damage any walls, then really the cost more than justifies itself” said a user of sticky flip charts in a large Retail company that we spoke to.
In my view, it appears that both users and decision-makers see definite merit in spending a little more money in order to get a product which truly meets their needs.
Is this a sign of the green shoots of recovery or just a small blip? Let us know what you think!Subscribe