June 11, 2009

Compete with Quality!

Grow your business from a position of superiority and strength; not price!
5 Guys Hamburgers and Fries founder believes just that:
"If you're going to sell a product, try to make your product good enough that you don't have to worry about price. So if your costs are too high, the way to control costs is by raising the price, versus cutting back on product. I think Mercedes-Benz is built that way. They put the best components in it and then figure out what they ought to charge for it. When you start getting into price consciousness and start cutting what you're putting into your product, then I think you've got problems and you're building a cheap product. There's a market for cheap product. Well, I don't wanna be in that market."
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