everyone says to build a good business you have to find customers pain points and solve that, i agree but when i look at brands like coca cola, products like games, movies, all these dropshipping stores, expensive brands who outsource manufacturing and use the word luxury to price it way higher than market value of that product and still people buy it, what are they solving?
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I’m not a fan of coca cola but it gives energy and is enjoyable for the most. And, it causes addiction so there will be regular stream of customers coming back for more
dafuq?
THIRST
Coke and other drinks solve the problem of thirst (in a hot day, after long day of work, etc) or the problem of needing to drink something with food. Try eating your meals without a drink, that’s a legit problem. They just got really good at being the solution in many people’s eyes
They got in early on branding so when you feel thirsty or need something to drink with a meal, a lot of people automatically associate it with needing coke. They are then the perceived solution.
The luxury items = status, they’re solving the problem of insecurity.
Eating without a drink, the Tom Brady approach
Try eating your meals without a drink, that’s a legit problem.
Lol what?!
Coke and other drinks solve the problem of thirst
That’s the thing bro, they don’t.
Coke dehydrates you more, all soda does lol.
What Coke sells is temporary refreshment.
This isn’t actually true.
Caffeine is a diuretic, but you’d need over 500mg to feel that effect beyond the normal “I drank a ton of water and I need to pee”
There is something to be said for the fact that people who drink a lot of soda will be less likely to drink a regular glass of water, but all sodas, no matter how much caffeine they contain, are mostly water and will still hydrate you.
Well the original had cocaine in it. Sugar satisfies dopamine receptors in the brain so its basically satisfying an addiction.
Needless to say, Coke and other soda companies also spend enormous sums on advertising for the exact purpose of creating the cravings they intend to satisfy. It’s a bit like that Homer Simpson quote about alcohol being "the cause of, and solution to, all of life’s problems.”
It meets a number of needs from what I can see:
Comfort paired with consistency (people recognise the name and know the flavour)… Addiction (caffeine hit)… Comfort again (the fizz can help with digestion if you have an upset stomach)… Sugar cravings (it looks like sugar is actually a highly addictive substance)… Safety (for example if you are traveling people will often only drink from a known safe container to avoid bad water)…
People like choices. You keep saying water. Why does wine, whiskey, coffee, tea, etc. exist. Coke is dominate due to them being one of the first colas to the market (unique), had a hard to replicate formula that gave them intellectual property (even without cocaine since it didn’t scale until that was long gone in their formula), capital since they grew due to being unique (and invested in), etc.
Basically, they built barriers to entry and own the top spot in the market. It’s VERY hard to dethrone a top player. Remember the coke sells a lot of other products also, including water. They also diversified when their sales were growing as quickly and/or slowed down in the past.
Diet Coke cures my depression.
It solves a feeling customers are missing.
They also add sodium so you still feel thirsty after you are done drinking it!
Everyone says to build a good business you have to find customers pain points and solve that
Like with anything, there are exceptions. Who knows how hard it would be to get something like Coke to succeed today? It’s not to say it doesn’t solve problems too, but that’s not why people buy it at this point. It’s a part of the culture and passed down generations. Any product in Coke’s shoes would be a smashing success unless it was going extinct, like fax machines.
The advice you mentioned is mainly so when starting a new business, you’re not having to convince people in a way that won’t really get them taking their wallet out to buy what you’re selling, but instead looking for people with a problem and some urgency to solve it, and solve it for them with your product/service. Because if you’ve got that, you don’t necessarily have to be good at two of the hardest things to master in business, sales and marketing.
Yes it creates and solves an addiction. Sugar caffeine etc I hate drinking it because it is addictive but gives me a short happy buzz.
Not every business needs to solve a problem. That’s a fallacy. Doing that helps, but isn’t needed.
Coke dominated advertising. First as medicinal usage then somehow convincing (paying) the government during WW1 that they were essential to solider morale therefore bypassing any sort of rationing that was thrusted upon other companies.
I don’t normally suggest YouTube but magnatesmedia on YouTube is an amazing channel with many businesses’ background.
Who told you a product has to solve problems to be a good product?
Your college lecturer is reading off the script.
Fact is, it’s not a luxury product or a product that solves problems. It’s a product that makes people feel good for a short time. Same as cigarettes and e-cigs. It’s a dopamine hit.
Every product solves problem, some of the problems are not really pressing or apparent, making people feel good is solving need to feel good problem.
I could tell you… but then, I would definitely, have to kill you.
So…
do you still want to know? /s :)