Understanding what a consumer wants goes far beyond the actual product. Yes, the product is extremely important, but that is only the first step.
Suppose you want to buy a business laptop: 2 brands have similar spec’d laptops and the 2nd one is 10% more expensive than the 1st. But if the latter has a track record of offering better post sale service & warranty, you’re more likely to spend your money on that than a cheaper laptop with terrible service/warranty.
The race is no longer just about the product, it’s about the experience. That’s why Apple & Google can afford to launch products that could seem grossly overpriced than other mid range companies, and be the most celebrated tech companies across the globe. Its the end of nearly 2 decades in the 21st century, and people don’t want to buy products, they want to buy how that product makes them feel.
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