What small business can learn from chocolate

Business can learn a lot from chocolate

Pricing

  • Some customers will pay more for the prestige of owning/using your product/service (Godiva).
  • Some customers will buy the cheapest version available (generic chocolate-flavored baking chips) because quality just don’t matter to them, because a premium price point is higher than anticipated, or because that is what they can afford or chose to afford. 

Packaging

  • Sometimes it’s how you package your products and services that encourages purchases. (How many colors of M&Ms can you think of? Trust me, the green ones taste just like the red ones!)
  • Sometimes it’s how you bundle your offerings (individual Cadbury eggs or a 3-pack). Encourage “add-on” purchases by making it easy for customers to buy more without having to think.

Creative Marketing

  • The Milk Chocolate Melts in Your Mouth, Not in Your Hand
    Use a tagline that will emphasizes your Unique Selling Point (USP) and is memorable. 
  • Sometimes you feel like a nut, sometimes you don’t
    Know your audience and adapt your marketing message and product/service offerings to the media — postings appropriate for your business Facebook wall probably shouldn’t be used as LinkedIn updates
  • Gimme a break…Gimme a break…Break me off a piece of that…
    Make your brand more than just a product or service. Tell your audience how your product can transform their lives and attitudes, if only for a moment.

What have you learned from chocolate?