The Problem with Infrequency

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How do you know the price of something?

Ultimately, it’s an agreement between the seller and buyer. You don’t have to pay the price. You could go elsewhere and get what you want cheaper. Or you could forego what you want if it’s not a need.

Buyers are at a disadvantage on infrequent items. If you only buy a home every seven years, are you calibrated to the pricing and all the fees along the way? Something you do once every seven years compared to sellers along the way that do dozens or hundreds of deals a month makes them an expert and you an amateur.

The same goes for the infrequency of buying a car, college tuition, health care, and a number of items that we run across in life’s journey and demands.

On frequent items like gas, cell phone service and eggs, it’s easy to dial into the price. You see it, touch it and interact with the pricing so much that there is less of a debate between the buyer and the seller.

It’s interesting to watch people get more excited about a 20 cent raise in gas prices and miss the upswing of university rates. We pay attention to things we frequent more easily.

Perhaps being scarce in attention can help you lever up as a seller. Your service could morph or integrate with other offerings. Or you could work in an innovative, infrequent purchase area to have more pull on pricing.

You could also be a price-focused hustler lowering your operational and delivery costs so that the language of price becomes collaborative with your buyers while you move the cost needle down.

Infrequency has its rewards for sellers and finding a game where you can assign pricing based on that value and advantage might be worth exploring in this vast, hyper-competitive marketplace.

Source: B2C