Budgets can be brutal. But they should always be flexible. While your operations and accounting teams may not agree, sales and marketing folks certainly will. Cheaper does not equal better – that’s a fact, any way you look at it.
The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
See that phrase?
“that have value”
They don’t say “bargain budget offerings”, right?
Nope. They don’t.
There is a strong push for RFPs these days (request for proposals). We get it – it’s a commodity-driven world that we live in, and there a many different factories that offer the same products, right?
Not so much.
RFPs can get certainly produce the best price, but they often overlook important features such as attention to detail.
We literally have thousands of production facilities at our fingertips all over the globe. Lots of our factories offer very similar products. We are able to choose the ones that we trust who can produce and deliver a quality product for our clients. The ones that are compliant. The ones that provide the complete package – including service. Not all suppliers are so kind.
The best factories are not always the cheapest because they offer a better solution overall. These intangible details are not something that is usually considered during the RFP process, which means they are often overlooked during the decision-making process. What started as a “best price” job quickly turns into a mad scramble to fix problems on the back end, ultimately resulting in a poor brand image as the grand finale.
Celebrities are the forerunners of fashion. What they choose for the red carpet soon becomes a coveted fashion trend for teenage girls all over the country. The problem is…budget. These teenagers desire the high-profile celebrity style, but they usually only have a minimum-wage budget.
So, they find the cheapest online company they can find that offers a photo of the perfect fashion replica…for a mere $65.
The anticipation rises. The delivery is made. A meltdown likely ensues.
Well…it’s a teenage prom dress budget after all. Here’s a look at some of the hilarious outcomes.
The moral of the story? Never expect to receive Dior style and fit at a bargain basement price.