In my marketing class years ago, we were taught that there are many things that are a part of the “marketing mix” and by finding “Unique Selling Proposition” in any of these areas, you can potentially build a successful business.

Location is a key part of the mix. If you are in the right spot, you can charge a premium and still sell your product. The classic example is hot dogs at a ball park. The hungry ball fan is glad to pay extra because (borrowing a metaphor) it’s the only game in town.

Put your store where there’s a lot of traffic and you can charge extra because there will be people eager enough for a solution that they will pay your price.

But that raises a question savvy consumers should answer for themselves before buying: “Am I really in such a need that I must buy this product right now, or should I spend some time looking around?”

There have been times when I have failed to ask that question and regretted it. This Black Friday, I still haven’t installed the SSD disk I bought last Black Friday. (The prices have gone down so I bought another one this year. Now I have two to install “real soon now.”)

Even when it’s IM NewsWatch doing the ad, I suggest you go slow. There may be lower-cost alternatives you would find almost as good. Or you may get a bargain by waiting 6 months when the product you so desire becomes a free bonus when you buy another one.

If you have a genuine and urgent need, then buy. Otherwise, think twice before investing.

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