Scott Anthony, author of the new book, The Silver Lining, contributed a recent HarvardBusiness blog post about “loving the low end”. Few architects are seeking the “low end”, but maybe there is something we can learn here. Is there a way we can restructure our basic architectural service and provide an alternative “stripped down” version of what we typically provide? Is there a market seeking that level of our services?
Think Lexus, Toyota, Scion…
What are your thoughts on “loving the low end”?
One of the key arguments in The Silver Lining is that companies have to find ways to “love the low end” to connect with budget conscious customers and fend off attacks from sharp elbowed, low-cost competitors.
A recent Wall Street Journal story shows how one company has found another benefit of loving the low end — keeping skilled workers gainfully employed as its high-end business shrivels up.
The story describes how legendary guitar maker C.F Martin & Co. has introduced a solid wood product line called the “1 Series” that sells for less than $1,000 — more than 50 percent cheaper than its traditional all-wood guitars (the company also sells cheaper guitars that use laminated plywood).
Customers have, not surprisingly, reacted positively to Martin’s innovation.