{"id":12153,"date":"2022-02-11T10:43:08","date_gmt":"2022-02-11T10:43:08","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/11\/happy-valentines-day-to-me-and-the-love-of-zero\/"},"modified":"2022-02-11T10:43:08","modified_gmt":"2022-02-11T10:43:08","slug":"happy-valentines-day-to-me-and-the-love-of-zero","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/11\/happy-valentines-day-to-me-and-the-love-of-zero\/","title":{"rendered":"Happy Valentine\u2019s Day to Me! And the love of Zero."},"content":{"rendered":"

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I did an interview this morning and was asked what are my Valentine\u2019s Day plans, but in the context of \u201cself-love\u201d.\u00a0Hmm.\u00a0Once upon a time that would have been a naughty word, but it\u2019s all the rage now.<\/p>\n

The world has intruded so much into our private space and time that we have to consciously carve out time to heal ourselves, to pay attention to nature, to disconnect from the cacophony of calls and demands.<\/p>\n

And where there is an opportunity, there is a marketer.\u00a0I have a paid subscription to Headspace, though I confess I have rarely gotten around it using it.<\/p>\n

Bella Hadid has talked about dealing with anxiety, stress and why she decided to stop drinking.\u00a0All great examples of self-love.\u00a0But she has also talked about investing in a non-alcoholic beverage brand Kin Euphorics\u2026hello, marketing angle!<\/p>\n

Gwyneth Paltrow runs a wellness inspired brand Goop which has a wonderful selection of products for Valentine\u2019s day. Caution:\u00a0Read the list<\/a>\u00a0in a private space, some are not exactly office reading.<\/p>\n

India seems way more traditional in its choices with a google search throwing up only one really offbeat self-love choice of the unfortunately named \u201cVampire Facelift\u201d. Marketers and celebrities clearly have their work cut out for them.<\/p>\n<\/div>\n

Love of Zero<\/strong><\/h3>\n
I remember when shoes, geometry boxes and pens were luxury items, passed on to younger family members. When you bought new clothes only for special occasions. And a dinner set received for your wedding was intended to last you a lifetime.<\/p>\n

Now this is not because we were more frugal or environmentally conscious but because these things were truly expensive relative to an average middle class income.\u00a0Incomes have gone up, of course, but innovations have driven down the cost of many product categories too.<\/p>\n

When mobile phones launched in India, the peak pricing was Rs 16.80 a minute! My client was RPG Cellular in 1996 and I had a free phone \u2013 oh, the heads that would turn as I walked down Anna Salai chatting on my Motorola brick!\u00a0 Now the pricing is close to zero.<\/p>\n

Zero is a very powerful number.\u00a0Particularly from a pricing perspective.\u00a0It\u2019s the reason why we put up with absymal security safeguards \u2013 and performance \u2013 from popular apps.\u00a0It\u2019s why we sign up for trials.\u00a0It\u2019s also why we take only one candy or paan when the \u201ccomplimentary\u201d bowl is offered after a meal.\u00a0Or why we are so delighted with the \u201cfree\u201d bottled water in a hotel room that we paid Rs 10,000 for.<\/p>\n

If you are in a position to \u201csell\u201d your product for free, I would heartily advise you to do so!\u00a0 I have a chapter in my book about pricing which is great reading. (And before you ask, my book is not free.)<\/p>\n<\/div>\n

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Now what about Ukraine?<\/strong><\/h3>\n
Even for products not priced at zero, a combination of rising income and falling prices has led to consumers being used to costs either remaining the same or dropping. Price hikes are dealt with very cautiously and usually by reducing the quantity of the product.<\/p>\n

COVID has already messed up supply chains and the rising income story for many.\u00a0Now Ukraine looks like it will add more disruptions.\u00a0I have to be honest \u2013 Ukraine isn\u2019t a country I\u2019ve thought about much.\u00a0My reason to study a country is usually to figure out whether it\u2019s a fun place to holiday.\u00a0But between Russia and Ukraine, they will impact the availability of natural gas, petroleum, aluminium, wheat and corn to name just a few. (Here\u2019s a\u00a0detailed read<\/a>\u00a0from ING.)<\/p>\n

If your product pricing is likely to be impacted, you have probably already prepped your supply chain.\u00a0But it would be wise to prepare your customers for this change too.\u00a0If you\u2019re a marketer reading this, you might want to check with your procurement folks if a price shock is expected.<\/p>\n

Happy Valentine\u2019s Day!<\/p>\n<\/div>\n<\/div><\/div>\n