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?
The “solve a problem” approach is a better fit for B2B.
For B2C often people will buy something because it makes them happy. There isn’t really an equivalent of this in the B2B world.
People buy coca cola because drinking plain water all the time would be boring; they like the taste and it makes them happy.
There are 3 types of products-
Painkillers: an immediate solution to a pressing problem.
Vitamins: not solving a pressing problem but something that can enhance your overall quality of life.
Candy: something that doesn’t solve a pressing problem, or enhance your overall quality of life, but is still enjoyable nonetheless.
The fastest line to success would be to sell a painkiller. But there are also vitamins and candy that always have a place in the market.
There are 3 types of products-
Nice
Coca Cola actually started as a painkiller - it was originally medicine.
Well, for starters, they are ancient and has been a giant in the industry for ages, helps with brand recognition and trust. Soda B could taste 100x better and people will still get a can of ice-cold Coke over it. Their marketing only gets better over the years, adding to that ancient ass brand recognition.
A problem that didn’t need to exist that Coca Cola created themselves, just like 90% of the companies created in the past 70 years. I hate this place.
Coco cola and other luxury brands are there to satisfy the wants of people, which is why they thrive.
Coca cola - problem - water is boring. bubbly Suger is yum.
games/ movies - life sucks i need an escape.
dropshipping stores - i want something, these guys sell it, i no longer need to go serach anymore (or deal with sourcing directly from china)
expensive brands - i wanna look rich and be admired and show off
From what I feel personally they solve no problem but they simply an addiction just like tea or coffee. Yes we tea and coffee have polyphonic caffeine bla bla but real reason we drink is its a habit and a light addiction. Same goes for coke
All those things probably solve multiple problems.
I can watch movies because
- I’m bored
- Enjoy a moment with my wife
- Have fun with friends
- To relax
- To learn something
It’s more complex than just being entertained. I don’t drink coke but I’d assume it’s something similar and more complex than just thirst or liking sugar.
Didnt it used to have cocaine in it lol
I would say, in the case of these products, they’re not solving any “real” problem. What they’re selling is a dream of a better life through consumption. The graving for this better life through consumption is created by these industries themselves. People are bombarded by ads every day painting a picture of what life should look like, what happiness looks like. Due to the absence of real and healthy pictures of what a happy life actually can look like without consumption, this distorted image is accepted as the social norm, resulting in a craving to fit in, leading to more consumption. Behold, a self-reinforcing system of wants overshadowing your actual needs was created.
The fact that you grouped Coca Cola, games, and movies all together here tells me you really need to go back to square one. Unlearn all of the bullshit you think you know about business. Not everything can be explained through the “lean startup” framework.
Art, entertainment, and commodities are not the same as Google Chrome widgets or SAAS companies…
I think retroactively trying to apply frameworks to successful household names can be an exercise in overfitting. Coca cola sold a tasty drink that people liked and was different to what else was available, they then ramped up manufacturing and branding better than others. I don’t think it solved any particular problem.
Easy, the problem of being thirsty and not sexy enough
need=problem
Solve a problem, fix a need, fix a want or enhance happiness or pleasure