7
Learn to Love the Low End
In the dark days of October 2008, consumers flocked to discounters like Wal-Mart and McDonald’s. Increasingly value-conscious customers and hungry low-cost competitors mean that innovators have to learn how to love the low end. Slashing prices isn’t enough. Determine what customers in low-end segments value . . . and deliver it.
The previous chapters described what companies are currently doing that they need to stop, and what they are currently doing that they need to do differently. This chapter and the next describe what most companies are not doing that they need to start.
In uncertain times, companies need to love the low end by embracing low-cost approaches that appeal to increasingly value-conscious customers ...
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