Joseph's "Just My Thoughts"

Believing that customers and consumers are identical can be misleading. These two terms are fundamentally different. For instance, parents don’t purchase a diaper after trying it on themselves, and pet owners don’t eat pet food before buying it. When the buyer is distinct from the actual user of the product, it’s crucial for sellers to approach product strategy and purchasing considerations with this distinction in mind. Often, we engage in business without fully understanding the nature of the products involved, which can lead to failure. - Joseph’s “just my thoughts”

A newborn baby instinctively sucks its mother’s milk for survival, regardless of whether it learns this behavior. Chewing is also instinctual. The product that aligns with this chewing instinct is “gum.” While it involves chewing, it doesn’t equate to eating. Producing gum is a simple way to generate profit, given its common and low-cost nature. Therefore, the price of gum reflects the cost of chewing, differing from the prices of drinks and food. Since these items are consumed together, they exist in separate markets. The defining factor that separates these markets is “price.” Even if the products are similar, they operate within entirely different markets. - Joseph’s “just my thoughts”