Customer isn't paying extra

I just booked an electric car. I mulled over the decision for a few months before finally acting. Obviously, the economic analysis will show that it is expensive and inconvenient to own an electric car at this stage. There are fewer charging stations, and the car barely gives 200-225 Km with a single charge.

What I was buying was not just the car. I was buying sustainability (I will be installing a rooftop solar power generator after the monsoon), status, safety, silent ride, and being an early adopter. We never pay extra. We buy at a price that seems fair to us.

In a few years, electric cars will be cheaper, economical, will reduce pollution, and be better designed. However, it also means that competition will intensify, and the prices will drop. Therefore, whoever is selling today has to work that extra bit to justify the higher price.

If you are selling something that isn't needing the customer to pay extra, you are in a rat race. What is known as creating value is really keeping the promise that your extra isn't really extra at all!

Subodh July 20, 2022