When I’m having really bad day, I buy stuff. I'm a retail therapy guy.
I spend super amount of money for something I don’t need, for someone I don’t know
Who I’ll probably never meet, cause I enjoy the indoor from kick
That comes from such insanity of good feeling.
Or I buy a stationary which is a little prefered, but we can talk about that another day.. so..
I drag my wife kicking and screaming against all her better judgment into the Gucci store
That sits just off pebble avenue, whatever it is there in the goal cross..
She found the bag that she likes for $1500
I was like $15, I thought to get away this for about 354,I'm like $1500 right..
Anyway it’s something about this bag that bugs me and the first I couldn’t figure out what it was
And just she was about to buy
I looked at.. I'd seen exactly the same bag in Malaysia two weeks before for 50 bugs.
Stupid me, mention that to my wife .. all the women, like.. what are you doing?
But have you ever been in a situation with your husband, your wife
Your better half when you knew you’re wrong but just start fighting anyway to make a point.
This is kinda help, cause you know , at this point Sharon has two choices right
Number 1 she can just, she can pretend nothing happen, not by the bag, be mad of me for all I don’t know four months
And she can figure out when I went wrong, the usual strategy by the way.
Or she can just unleash in the store, she unleash..
You little bastard that she what she calls me once she get in.. you’re little, little man
You little bastard, you drag me into this store, you make me find the bag and then you dare to question the one I choose.
I don’t want the bag from Malaysia.
I’m going back in two weeks, I buy you two for 60. You don’t know what I said.
I said there's different colors in Malaysia that anyone stock of wearing Gucci she likes.
She said I don’t want the bag from Malaysia.. why not.. Because it’s a fake..
I said ya with exception of 16 year old school girl in Japan..
No one actually knows the difference between a real Gucci bag and a fake Gucci bag
She said yes I can, I said how.. she said stitching.
I was like $1500 with the stitching.
She said yes.. Put the bag in the store and left
I chase her down the course and try to track it down. It's a devastating in my merry life.
Don’t you think that’s it a little bit irrational..
To which she says no, I don’t wanna fight back and I said no.
And I said yes I will..
In other words my wife spent 30 times the price, 30 times the price of it’s functional
And I would argue having make this thing as static equivalent.
30 times of price because of the story she told herself about that product.
In other words Gucci has spent billions and billions of dollars.
Building the narrative in amount of the market
That says buying Gucci makes her sophisticated, pretty, smart, successful, whatever it is.
In other words to build a story for people to pay 30 times of the price to buy to it.
If you don’t think your job is to do the same thing, you’re delluded.
If you really think price is the dominant driver of the decision that you engaged with
Then you’re not building a powerful narrative in the mind of the buyer for what they should buy from you.
Here is my experience the higher the price the more people say yes.
It’s weird.. I have a call the other day would you come and speak in Malan, I’ve never been in malan.
My chairman said everyone go to Malan.
That thing cost me a fortune of unleash the beast right..
I wanna go and like.. charge in double.. what did they say.. yes. What's it.. it almost like..
This is not necessary for every business. But in my business price is actually part of the stitching that drives the story.
And for many of you may be the same.
Could be something entirely different, maybe price isn’t the driving stitching pack ..
But I'm trying to get you understand, is that yes..
It has to be competitive in some way.
It doesn't mean cheaper. It just means competitive, we can’t go and sell chairs for 50,000 bugs that look like that.
You know that I can get chairs for 50, you have to be efficient, you have to be what they want.
I mean, daah, it’s 2010, doesn’t have to be a reasonable quality..
Yes it’s depending on the need.
But if you really wanna donate a market place, you have to understand how to build a story.
Now the weird thing is that even though it’s all about the story..
The way you tell a story is actually through the stitching. Is that make sense?
Meaning Gucci wouldn’t have that powerful story if they didn’t have great stitching.
And it’s what’s called hermine udic circle.
Each piece leads each other piece more powerful story. The better stitching, the better stitching the better powerful story..