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Unpacking the Dynamics of Consumer Choice and Pricing [RR 924]


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The Value Paradox: We all want top-notch service without the hefty price tag. However, quality comes at a cost. Andy Bizub explores this conundrum and how it mirrors the choices we make. Consumers often face a choice between the cheapest and the luxurious with little interest in the middle ground. This observation sparked a conversation about how the automotive industry can apply this pricing strategy to their businesses. Remember, it's not just about the price; it's about the value and experience you provide. Andy Bizub, Midwest Performance Cars, Chicago and Northbrook, IL.  Andy’s previous episodes HERE.

Show Notes

  • Watch Full Video Episode
  • Consumer choices in the airline industry (00:02:05) Discussion on consumer choices, pricing, and quality in the airline industry and its parallels to the automotive service industry.
  • Charging fair prices (00:05:07) Exploration of the challenges and mindset of shop owners regarding charging fair prices and the impact of consumer behavior.
  • Creating exceptional customer experiences (00:07:45) The importance of providing exceptional customer experiences and the impact on customer loyalty and satisfaction.
  • Transition to becoming a high-end shop (00:12:21) The journey of transforming a failing shop into a high-quality, exceptional customer experience establishment.
  • Retail examples and business strategies (00:14:08) Comparison of retail examples (Nordstrom, Target, and Walmart) and the importance of offering a superior customer experience.
  • Consumer mindset and experiences (00:17:38) The impact of consumer mindset on the value of a bargain versus an extravagance, as observed in the airline industry.
  • The year of the customer and the client experience officer (00:18:05) Discussion on the importance of prioritizing customer experience in businesses and the challenges of adapting to pre-COVID business operations.
  • Managing labor rates and shop supplies fees (00:19:30) Exploring the impact of customer experience on labor rates, decision-making regarding shop supplies fees, and the comparison with dealership invoices.
  • Pricing strategies and customer experience in the automotive industry (00:20:52) Examining the impact of pricing strategies on customer experience, including the frustration caused by hidden fees and the parallels with the airline industry.
  • Adapting labor rates and dealership comparisons (00:22:23) Discussion on adjusting labor rates, the impact of dealership labor rates, and the importance of providing a better customer experience.
  • Challenges of being in the middle in the automotive industry (00:26:06) Exploring the challenges of being in the middle of the pricing spectrum and the impact on talent acquisition and business sustainability.
  • Building an effective team and book recommendation (00:28:08) Insights into building a motivated team, the significance of maintaining a clean and professional image, and a book recommendation for business and life lessons.
  • Leadership, self-improvement, and the value of asking questions (00:32:24) Discussion on the importance of self-improvement, effective leadership, and the value of asking questions to enhance understanding and decision-making in business.
  • Family Business Challenges (00:34:32) Discussion on the challenges of working in a family business and the expectations placed on family members.
  • Navigating Family Business (00:35:03) The difficulties of navigating a family business and the expectations placed on younger generations.

Thanks to our Partners, AAPEX and NAPA TRACS Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections NAPA-TRACS-Call-To-Action-Graphic-1.png             ARN-Website-Banner-July-2022-1200x400-1.png

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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