Fasttrack: What makes branded products more attractive than fakes? Why are we willing to pay more for an attractive product with a well known brand name? Not every product name is a real brand. So much fake stuff is being sold in online stores. realize how honest product branding can build a stronger sales proposition.
#branding #fake #fakecopies #brandvalue #marketing #positioning #sales #retail #strategies
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Transcription of this Episode
Welcome to today’s episode, Fastrack. And what makes branded products more attractive than fake products? My name is Christian Bartsch and I’ve got for you here on this fast track of the growth zone show some really interesting thoughts to share with you. I hope you’re going to have listened to the previous editions that we’ve had because they or more or less build up and helped you to gradually get a picture and more clarity, because it’s not all just straightforward always. It’s several elements and depends as very, very much on your business whether your business is in a certain industry, certain things are currently happening that influence.
So let’s go in deep now and have a look at branded products and why they’re more attractive than fake products. So let’s say let’s say you are putting yourself into the shoes of a buyer. We want to buy new sportive casual shoes, but then aren’t going to be the sporty, spotty shoes aren’t comfortable as well for walking, going and shopping and everything. Just let’s imagine our avatar, which means our symbolic customer. He’s male around 40 to 50, and he’s looking for these casual shoes. So. What can you do? You can buy all sorts of brands. You can go and buy ASICs, can buy NIKE. It can buy Adidas, Puma. Many other brands that exist there.
Non branded brand names are not real
You can buy all sorts of brands. You can buy aswell home brands or brands that belong to the retailer themselves, where you are ordering the products. And you can buy aswell products have got an unknown brand or so-called non branded brand names, which means it’s a brand that was just practically invented. And, um. Yeah. And doesn’t have any marketing behind it. There’s nothing. It’s just some fictitious name and there is nothing to it. There’s no branding. No there’s no culture like we would see with NIKE or Addidas and Puma and so on, where they either focus on, on stuff like football or on tennis or other kind of things like charge you or empowering people, you know, different things.
A fake product would mean that he tries to go piggyback on another brand’s product and brand, which means it would be like a copy of a shoe. And yeah, a few months ago, I was looking for shoes and I had this situation as well where I was going on Amazon and looking for shoes. And yes, since I’ve got shoes from different brands and I decide, OK, here, I thought, oh, that’s that sounds good. I saw some Nike. I saw some Puma and Adidas. And so on. I was looking at them.
Move the productions more towards North America
Looked in the reviews: And then I read now, depending for after a few times or even already out of the first use, these shoes were making strange noises like naks, nicking or making stenchy, strange screeching noises. And I thought. I’ve had shoes from all these brands, and they don’t make these noises. And yet it’s always a money product. I can be, but if everybody writes that these shoes make strange noises. It would tell me that reach our target markets. It’s cheaply done. Yes, we know that certain brands produce as well in China and Vietnam and Korea and so on. That’s that’s how it is nowadays, unfortunately. Unfortunately, maybe the brands will eventually move the productions more towards North America and Europe in the long term.
It would be definitely one of the good things that could come out from the current pandemic that they diversify aswell as, the production facilities have more production closer to their clients. But the key thing is why should a product start making strange noises when usually your buying experience says these products don’t make these noises? They are well manufactured. And even if they’re manufactured in low income countries, they’re still properly produced. And I grew up as a child. I used to visit my father’s work place.
Reach our target markets
He was a factory and general manager for a manufacturing company, manufacturing consumer products. And yeah, and I know how manufacturing works and how standardize all these things. And these big corporations have, even if they, uh, subcontract their manufacturers the manufacturing of products now a days. Proper industrial production has very low level of defaults. And you can’t be that you have like 50 or 60 shoes being sold to all sorts of clients and all made with exact this same defect. Yes, it could be possible. But usually these brands are clever enough to say we’re not going to sell that stuff because it’s not going be good. And if that actually does reach our target markets, it’s going to cause problems. And that’s the thing.
Fake products can cause health risks
These products, they’re making these strange noises that are defective, not low quality. They’re all just fakes. They look similar. Maybe somebody copied the production design or maybe they worked in a factory and then they sold the manufacturing designs and information and so on. And, of course, the man who is trying to make an extra dime on that being a fake or product copy. Doesn’t really take the care to do a high quality product, but I just want to make a quick dime on it. I don’t care about your health. Don’t care about the quality. They don’t care about the brand. And yeah, and you don’t even know what stuff is in there stuck in these shoes. So it could be any kind of stuff that might even result in you’d get rashes, irritation, skin problems, anything. It might even injure your foot because maybe they’re the suspension isn’t an good inside and it’s going to cause damages or some nails come through whatever, whatever is in that stuff.
So you are looking at these products and think: “sounds strange”. And that’s the thing we usually do. Look, we want to make a sound purchasing decision. And so we’re looking at these products and everything. Yeah. Well, OK, that one cost maybe 20 dollars. The real shoe maybe costs me fifty eight dollars or whatever. Nothing. OK. Mm hmm. Well, it’s cheaper. I save maybe twenty eight dollars. Okay, but what if it’s a fake and it’s garbage you lose twenty dollars.
The attractiveness of a branded product
So, You starting to become aware of the attractiveness of a branded product at its the original branded product. It’s because you have trust in the corporation, in the brand. The company actually produces these branded products that they will make the effort to ensure that this product doesn’t hurt you because if it hurts, it will damage their brand. It takes so long to build a good, good brand. It just takes a few days. A few weeks. And a little bit of greed and incompetence, and you will destroy an entire brand from one day to another. And we see that as well in other areas as well. You see, uh, brands have been diminished by things happening and then, boom.
Buying fake goods deminishes the branding of the buyer
Nobody trusts our brand anymore and even comes up. Nobody will want to trust it because the brand isn’t tarnished. And that’s why products that are brand are more attractive already and able to protect themselves against fake products. In the long run, there’ll always be people who believe it is nice and cheaper to save money and have a fake branded thing. It’s like these fake Rolex and that stuff. But honestly, if you own one of those watches, you know what of face looks like? And you would be. And this person that buys this fake stuff might be even called out. But other people say, hey, that’s a fake stuff. You look like an idiot because everybody thinks you can afford this watch. So instead of buying a fake. Rather not buy a fake and not have a fake Rolex.
And that’s the key thing. You want to have the original. And it’s up to you how you negotiate the price to buy your original watch. If you design as a retailer and say, how can I use even the proposition towards my clients that I have branded products, the real authentic, and they have a culture to them and they are something really instead of somebody else, is just selling shoes that either fake or use some totally unknown brand and this has nothing to it. Then you will be able to leverage your ability to generate revenue. And whether you are in retail with brick and mortar and selling door to door or even selling online doesn’t matter. You can use the branded product to reduce aswell buyer’s remorse and as well, in particular, reduce the barrier between the client buying the product and parting from theeir money.
See the value between the real and the fake product
And that’s the thing you want the person to be sure and convinced they want to buy that from you. Yeah, I imagine you’ve got a lady who’s very supportive. Likes jogging and that. She has a particular fondness of certain colors and she likes certain brands. You can actually go and focus on the key features that are really beneficial for her. Show her the value of it. I would say that a woman is more likely to buy a branded product than a fake product if she sees the value between the real product and the fake product.
A branded product is going to last due to true manufacturing quality
Because, of course, there’s a price difference. But if the price difference means that my branded product is going to last for five or 10 years and still be beautiful and working won’t break compared to the thing that maybe costs half the price, but it’s going to break within six months. That’s going to be a disappointment, particularly because you haven’t got the product anymore, it falls apart and the money’s gone as well. But consider the product that you pay maybe 20 dollars compared to the price you’ll pay, maybe fifty eight dollars. And divided by five.
But unfortunately, the product that is not going to last half a year. You have to divide. You can’t even divide it because it means that the product actually is costing you double the price within that year because you certainly have to buy it again. The other part, which cost a little bit more, is going to last five years. And it’s the real thing. Everybody who questions you will notice and compare and say: “oh, it’s the real thing”. Exactly. And doesn’t matter whether it’s shoes, bags or the other things, the cheap stuff, the very cheap stuff that’s fake is just going to fall apart. And that’s not really fun. If you want to enjoy the fruits of your work by investing your good money in branded products and not fake copies. And that’s the thing.
Branded products have a culture
Branded products are much more attractive because they’re half as well attached to them: a character, an image, a vision and a mission, a culture. And if you identify yourself with that culture. You cannot go and identify yourself with the culture of the fake product because that’s a different culture. They fake product is based in the culture of ripping other people by copying their products, not having any kind of identity. Just jumping from one thing to the. And delivering garbage, garbage quality, garbage products and a low price, which actually is a high price because you think the product only lasts six months.
The product cost him more than the product cost, that lasts five years. And maybe cost double the long run. Divided by five. You know, this actually what the other product actually costs you per year or per month, whatever, and that’s the thing. The costs and then of the branded product is much lower in the long term because as well the quality has to be higher because if it’s a garbage product and it’s branded, there’ll be a point within the margin between branding value or perceived value and the product quality, product true value is so distant apart that the satisfaction of having that product isn’t large enough to compensate that gap between both.
A low product quality would kill the brand
That’s where then a low product quality production for brand product would kill the brand. And that’s what usually happens as well when certain organizations are having trouble and they start doing that wrong management decisions and they start cutting down their costs at the wrong place and starting cutting quality. Just to maybe increase the payments for the CEO and not increasing the value that is offered to buy to the client, the customer. And that’s when these brands die. But if you go and do all the things as best possible, focus on the brand, focused on the quality and on the attractiveness and get people attraction, understand the difference …
A true difference … they would buy from you. So in our next episode, we are going to look at some other topics in relation to branding companies values and how this can even influence your marketing and your net worth of your business.