PS: how do you guys like the weekly Wednesday (or Tuesday for most readers) posts so far? Yea i know, a big change from the daily posts in the past. Anyway thanks for stickin' around.
So as you can guess, today we're going to talk about the magical relationship between quality, cost and time, in relation to business.
In the most simplest form these are the 3 quantifiers (or is it qualifiers? my grammer and spelling sux) that you consciously, or sometimes unconsciously, compare when making a purchasing decision. Quality refers to the quality level of a product or service. Time refers to how long or short it takes to access (buy) said product/service. And lastly cost is obviously how much gold/dollars/pesos its going to set you back.
The golden rule normally is, in most situations, pick any two. Since this is a wow gold blog lets have a look at some quick AH examples from the eyes of a buyer:
- Want a cut epic gem (high quality) and want it now (short access time)? Dont be surprised at the high cost.
- Want the latest purple BOE (high quality) but want it as cheap as possible (low cost)? It takes time to keep checking the AH and finally snatching one when the price is low enough (long access time).
- Lastly, need an enchant for a new chestpiece now (short access time) but can only afford something cheap (low cost)? +8 stats (low quality) is all you're going to be able to buy.
There are of course exceptions to these rules. Sometimes you can get epic gems cheap right now on the AH because the seller is not a pro goblin and needs the cash to splurge on the new weapon he's been drooling over for the last few days.
So what does this have to do with you the budding business goblin of the wow world? Simple.
The first rule of business club is: set a goal.
The second rule is: know yourself and your competition.
The third rule of business club is: know your target audience ie your customers.
The goblin that has 5 million gold on your server understands exactly how much to fine tune the above 3 variables for each of his products and services, to maximize his operating profit. Be that goblin! Win the AH for Critical!
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