Today, many of the goods we buy have an aftermarket. Houses, Shares, Cars, Gadgets, Mobile phones etc…
Building a successful aftermarket and allowing people to buy a “nearly new” product is the key.
Apple have successfully build a high resale value for their product.
Lexus, Mercedes and Rolls Royce know the importance of a high resale value as it a critical part of the buying decision
If you make a product, think how can you facilitate a strong after market.
90% of houses are second hand houses, the after market for cars is fundamental to a good eco system.
I love this commercial from O2.
they have used the strength of their brand and the fact that premium customers trade in their phones aftet the 1st year.
So they capitalise on the people who want the new new thing and also the people who are more price conscious and want to buy a high end nearly new product.
Can you do the same for you product.
A premium product that has a strong after market is both good for you and your customer
on the other hand if you destroy your brand like VW did, what happens to the aftermarket.
It is a very strong message to the market.
When Lexus fist came on the market, they promised to buy your car afterwards.
Rolls Royce would buy any old car to make sure there were no bad cars on the market…. to change the prestige perception of their cars.
I love this just like new ad from O2 “just like new”
In some countries second hand is sold as Half New….