The city of Sydney has quite a bit happening at the moment. Australian Idol final on Wednesday, I'm visiting the city on Wednesday - not for Idol ;-) - and the Rugby World Cup.
As important as me visiting for the day is (!) the Rugby World Cup is having a bigger impact. I've just been checking out the accommodation. Most places are booked out for the next week.
And on some discount accommodation booking web sites, you'll see a funny thing. Instead of being 50% below the usual rate, these web sites are selling the accommodation at a 40% premium on the normal rates! (Check out Mercure Grand Apartments Darling Harbour - the normal rate is $480 a night. Now selling for $680 a night!)
What a great example of supply and demand.
In my business, when I do stuff we charge more than when someone else does it. The reasons for that are pretty basic.
* I know more stuff.
* I'm quicker at doing things.
* I'm better at doing some things.
I provide better value.
If what you provide your customers gives better value than the competition, maybe you should be charging more?
Remember, it's not about the price. It's about the value.
Have a good night.
Brendon
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