Illuminating Marketing Blog

Consistency. Each week, each day, you know what you need to do to finish your bit for your job. Say you own a gas station. You know that each week, based on the kind of ebb and flow of your business, you can adjust the prices of your gas to ensure a steady stream of revenue. And each week, your customers think they've won - or lost - the gamble of when to buy.

What happens when your consistency is noticed? In the case above, what would your customers do if they realized that every Tuesday your prices were at their lowest, and every Wednesday they were at their highest?

The Cincinnati Enquirer published an exhaustive report today that investigated the pricing practices of 716 gas stations in the Greater Cincinnati area. The results mean a couple of things. First, that if you need to fill up, wait until Tuesday. More importantly, however, the report shows how consistency can be a trecherous trap.

Think, for a moment, about the sliding scale pricing strategy enacted by these gas stations. If every week, the stations fluctuated their price by 3 cents - between Tuesday and Wednesday prices - how much are they losing? As more people shop on Tuesdays to take advantage of the sale, less people shop on Wednesdays to pay for the sale. Perhaps the consistency the gas stations should maintain is one of pricing. each day at roughly a penny above the Tuesday prices would yield a higher average sale than the constant fluctuation. And create a relationship with their customers based on price consistency, instead of the hob-goblin of foolish consistency that seems to be this constant fluctuation.

Just a thought, as we stare down the barrel of another set of failing banks, rising gas prices and scared creditor - when you treat your customers with respect, they'll stay your customers.