CAR CATALYST OF THE WEEK & TIP OF THE WEEK

“Selling the Hole, Not the Drill”

Marketing tip by Theodor Levitt:
In this “Tip of the Week” we suggest testing our marketing approach using legendary Harvard Marketing professor, Theodore Levitt’s statement:
“People don’t want to buy a quarter-inch drill; they want a quarter-inch hole”.
The point he’s trying to get across is that customers don’t purchase products for the sake of the product, they are “hiring” them for a job they need done. In the case of the drill, they’re “hiring” it to make a hole in their wall, not for the sake of owning a drill.
Applying this approach to the auto catalytic converter business, we may ask ourselves: what do our customers really want?
Is it only selling their goods for the best price?
The full answer probably includes a few other things, like:

• Building a long-term business relationship

• Being part of a group

• Feeling they are not only earning money but also helping the environment or something else

• Being appreciated for their work
Sometimes, it is good and helpful to check our marketing approach!!
Good luck starts today.