The commodity versus the product

What is it that you sell? Even if it’s just one product, it’s really more than one thing to your customer.

As an example, in his classic book “ The E-Myth Revisited “ author Michael Gerber shares this quick note about what Revlon actually sells:

Charles Revson, the founder of Revlon and an extraordinarily successful entrepreneur, once said about his company: “In the factory Revlon manufactures cosmetics, but in the store Revlon sells hope.” The commodity is cosmetics; the product, hope.

They make, manufacture and sell cosmetics, but people are buying hope.

You can draw a similar line with what we sell at GreenMellen. Someone may have us build a website for them, but a website isn’t what they ultimately want — they want stronger credibility, more sales, or something else that helps their business. The website can be a great means to get there, but it isn’t what they’re really after.

It reminds me of Theodore Levitt’s famous quote that “ People don’t want to buy a quarter-inch drill bit. They want a quarter-inch hole. “ They might have to go buy a quarter-inch drill bit, but what they want is the hole (and then likely to hang something like a bookshelf, and the benefit of showing off their collection to their friends). You might be selling drill bits, but people are buying the pleasure of a well-decorated home.

Know your products, make them awesome, but keep in mind what people are really buying when they make a purchase.

Originally published at https://www.mickmel.com on April 20, 2024.