Why do we buy German cars, Italian shoes or Swiss chocolate? Why do we buy South African wine? Why do we prefer to attend Harvard University? We can ask more questions, including why we prefer marrying from some regions.
It all boils down to quality or perception of quality. We prefer certain products or services even before buying them, based on reputation and perception of quality. The suppliers or service providers can earn a premium based on quality. And if the fakers don’t get their way.
Quality is one of the key building blocks of business empires. We know about it, but we never leverage it. For a very simple reason, quality needs patience.
It takes time for the market to recognise and reward quality. German cars, Italian shoes or South African wine did not get their reputation overnight.
Daimler has been making cars for over 100 years. South Africa has been making wine for over 200 years. Harvard has been there since 1636!
Once you start a business, you may have to let your progeny reap the benefits once quality is recognised, and rewarded by the market.
Sadly, we are not that patient and we lose the game. I have three examples. One was pishori rice. Someone sold it to me. The first two or three deliveries were great. Once I became a customer, he mixed pishori with normal rice. I stopped buying and I guess others too.
More watery
The second was honey. Dilution led me to stop buying. The third was fresh milk, it became more watery with more deliveries. I stopped. I guess in all cases, other customers stopped.
Yet many customers would be willing to pay a premium for quality goods and services. Why dilute pishori, honey or milk? Why not charge a higher price and keep quality?
Most of us are not patient enough to build on quality. Our customer base never grows. Does this explain why multinationals are rare in Africa?
The public sector is never left behind. The quality of public services and goods has a positive spillover on the private sector. The public sector has little competition beyond agitation by well-informed voters.
Sadly, its poor quality drags the whole economy down. Ever wondered why some cities are trying to control the number of tourists as we cry for more?
Leveraged on quality to expand your market? Talk to us.
