Let’s talk about mac and cheese. A subject that I’m sure is near and dear to many hearts, taking you right back to those days in college or as a busy parent of young children when there was nothing better than a meal in a box. I have yet to meet the person who is non-discriminate over the brand of mac & Cheese they choose to consume. Everybody has their favorite brand they have chosen for one reason or another and that is the one they stick with through thick and thin. Different brands of mac & cheese they generally fall into 3 different categories; there are those brands you purchase because they are cheap. You don’t care what the box looks like or that there are better tasting options available, your primary motivation for purchasing that brand is because it is the least expensive option. On the flip side there are the premium brands, ones that offer different cheese flavors, higher quality noodles and are by far the best tasting on the shelf & charge a premium price for their product. Then there’s Kraft. Kraft lives in the middle of the mac & cheese industry, they are neither the cheapest nor the highest quality. They attempt to capture both markets by being the best of both worlds. The problem is that taking that approach they are still more expensive than the generic brands losing customers to them who are looking for low costs and they are not as good or exotic as the premium brands losing customers to them who value quality.
It has been said that we currently live in a hour glass economy and if you want to succeed you need to decide if you want to be at the top or the bottom because there just is not room in the middle. Economy and luxury cars always seem to do well but the “mid-level” cars are always the ones that car companies spend the most time, effort and resources trying to move and they always prove to be the most difficult to do so. Wal-mart has made a massive empire on attacking the market that values low cost while companies like Whole Foods have shown amazing growth by offering high quality products at a premium price (earning them the nickname “Whole Paycheck”) Where as companies like K-mart are left out in the cold, too expensive to compete with the Wal-Marts of the world and too low quality to compete with the Whole Foods model.
So in fitness what are you? Do you make fitness affordable for the masses and have a low cost / high volume business model? Do you offer a unique and world class fitness experience and charge a premium price? Or are you Kraft.
Trainers and group ex instructors believe in what they do and have a passion for changing people’s lives, But no matter how much passion you have you will never be all things to all people. Trying to appeal to as many people as possible by sitting in the middle might sound appealing but in today’s world it seems that more people are either looking for low cost or high value. A simple change in mindset and spending some time to really evaluate your business strengths and target audience can help drive your business to a new level by taking you to where the people are.