A couple of weeks ago, we took the kids to Universal Studios Hollywood for the day. Based on some advice from friends, we opted to get the VIP ticket, or whatever they call it, that allows you to jump to the front of every line for every ride. Very cool – and we paid handsomely for the privilege. Consumers are seeing more and more of this in the marketplace. The American middle class is shrinking – but what is often overlooked is that many of those who are exiting the middle class are headed towards the upper class, not towards poverty. While many of these consumers may not be considered rich or even wealthy, they are certainly affluent, and they have the money to pay for superior value – such as these VIP tickets to amusement parks, concert performances, and the like. This kind of tiered pricing has long existed, but it is increasingly prevalent for many services. This is interesting to me, as I don’t want to compete on price in a race to the bottom. I want to compete on service, in a race to the top. I strive to deliver service that far exceeds what any client will expect of me, or any REALTOR for that matter. For those in any kind of service business, this is something to consider – that there is a growing cadre of consumers who are ready, willing, and able to pay for a superior experience. Are you ready to deliver? I know I am.
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