Seth Godin’s post on the meaning of “it’s too expensive” was a really interesting piece that made me reflect on how I justify my spending. It also reminded me of an experience I had browsing department store in Japan. I was looking at the artfully arranged fruit section of the grocery department when I saw a counter of mini seedless watermelons packaged in beautiful boxes. The melons were displayed as on sale for 1200 Yen (15CDN), and were almost completely sold out. I remember balking at the price of these tiny melons and wondering why people were willing to pay that much for them. Yet, only moments after, I went and spent far more than $15 buying pastries and lunch. I thought the watermelons were too expensive, but it wasn’t that I couldn’t afford it; it was just that I thought its value was less than the price.

With some the knowledge gained from these months in marketing class, I think I have a better perspective on why those melons cost what they did. First, I’ve learned that “too expensive” is really just a way to say one of three things:

1) I don’t want the product enough to justify the cost

2) I can find a cheaper, satisfactory alternative to this product

3) I want this product and I would buy it if only I had the money

In most cases where I hear (or utter) the sentiment, it’s not because of reason 3.

I grew up in North America, where fruits are relatively plentiful staple product that is sold cheaply by the pound. In Japan, fruits are considered more of a delicacy and are often given as gifts. As such, the quality standards are higher; you won’t be able to find a bruised or misshapen fruit in any of their grocery stores. The price of that watermelon reflected how the fruit was valued differently there, and it might have been considered a great deal in that perspective. The reason I thought the melon was overpriced had nothing to do with the actual cost of fruit. It was simply that I wasn’t the right consumer for it.

I think this applies for most of our opinions on the worth of a product. I wouldn’t spend $200 on a luxury bottle of perfume, but many people do and find great value in their purchase. So perhaps the best translation of “it’s too expensive,” is, in many cases, “I’m not the target market.”

Image source: foodsaketokyo.blogspot.com