Advertising Age asks its subscribers to be part of the news and vote in their online poll every week. This week’s question is about the perceived value of an innovation. At LEVEL, Innovation is a core brand tenet. It is improving what exists and introducing the new. The team here operates with that principle at the forefront every day – and so do many of the brands we work with. So when AdAge asks, “Would you buy a $300 fan?” I have to wonder, would I? Would you?
From the AdAge Poll:
BACKGROUND: Dyson revitalized the vacuum category by reinventing the machine and charging a pretty premium for it. Now the company is trying to do the same thing with fans, by offering a blade-less, noiseless “air multiplier.” But with prices starting at $300 — more than a cheap air conditioner — some experts wonder if consumers will be cool to the product.
THIS WEEK’S POLL QUESTION: Considering its success with vacuums, would you spend more than $300 on a Dyson “air multiplier”?
So would you?
I’m in the market for a ceiling fan and as I usually start my purchasing decisions, I start off by looking for the best deal:
- What’s on sale at Home Depot? Lowes?
- What’s on Overstock?
- Can I get a discount for buying more than 1?
- Is Fan Diego having a sale this week?
During my “deal hunt” I get educated on the product I’m interested in buying.
- What size fans are available? What size do I need?
- What are the electrical requirements?
- What are the differences between the styles?
After I feel like I have a good grasp on the pricing and product, I start looking at online reviews and asking my friends and family for their thoughts/experiences.
- What ceiling fan did you buy for your house? How come you choose that fan?
- Does your ceiling fan have any problems?
- How come you had to return the fan?
- Why do you love your fan?
After listening and reading horror stories about creaking ceiling fans, broken light fixture and impossible to install ceiling fans, my focus changes from finding the cheapest fan to finding a fan that won’t creak when I turn it on and adds to the room decor – which isn’t going to the be the fan that is on sale at Home Depot for $49.97.
So would I spend $300 on a ceiling fan, when I could go to Home Depot and buy one for $49.97?
If the $300 ceiling fan doesn’t creak when it’s turned on, is easy to install, fits the space well, has a friendly and informative sales person or website, and looks AWESOME in my house – yes I will buy it. In fact, I found the $300 ceiling fan that I’m going to purchase…. with my 10% coupon I found in the paper.
Of course all of these principles could be applied to the agency space as well…
Client starts off by looking for a good price….
Client learns about the agency space and the players…
Client asks around for recommendations and advice from colleagues…
Ultimately the client needs to decide after their search, if they want an agency that costs less, but is not reliable and gives them what everyone else has OR if they want to pay more up front to get an innovative product that is easy to use, fits with their brand, has a friendly and informative team and looks AWESOME.
Jessica - 7/21/10 4:45 PM
I’ve honestly been waiting for the right ad campaign to sweep this up and run with it…something to the order of, Dyson “We don’t suck, we blow”
Josh - 7/29/10 7:47 PM
Might that be a bit too cheeky Josh? Dyson as a brand promotes its innovation – plain and simple – and that brand has a ton of equity. Folks trust the British accent against a casual commercial backdrop – perhaps because they convey complex messages in a straightforward, 30-second spot that make us all think, “well of course, why didn’t I think of that?” In the end they pay $300 for a fan and God knows how much for a vacuum. Is it time they got a little playful with the brand or a campaign? I don’t know. I would definitely smile if it’s something that came across my TV screen.
Alexandra League - 7/30/10 9:47 AM
I personally wouldn’t spend that much, cuz I’m not ridiculously wealthy, and a regular $20 table fan is just fine for me
The Dyson Airblade, though $1200, ROCKS though.
Steven Davis - 8/20/10 10:05 AM