31
You are in the wrong business
When someone asks you at a party what business you are in, what do you say?
I’m guessing you’ll give an obvious answer. Obvious, and wrong.
What business would you say Harley Davidson are in? The motorcycle business? The transportation industry? Nope, they’re in the toy business.
When Harley Davidson analysed their customer base, they found their typical buyer was a 47-year-old man with an income of more than £50,000. When it came to asking why they’d bought a Harley, they weren’t looking for a particularly effective way of getting in to work in the morning. They were rewarding themselves.
And when they analysed what the competition was for this ‘lifestyle reward’ spending, it wasn’t other motorbikes. It ...
Get The Devil's Advocate now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
