Seth Godin makes a hugely insightful point in his riff on Theodore Levitt’s famous quarter-inch drill bit quote.
People don’t want to buy a quarter-inch drill bit. They want a quarter-inch hole.Theodore Levitt, Harvard Marketing Professor
Godin argues that it’s not even the hole that people want.
It’s not the shelf they plan on installing on the brackets they’re going to drill into the hole.
What people want are the feelings they’re able to access now that they have the drill bit; the feeling of pride when they install the shelf by themselves, the gratification of pleasing their spouse, or the safety and security they might experience when then can put all their things on the shelf, and keep their space tidy and organised.
This is important for marketers to understand, but equally important for us to understand as consumers.
When we spend (be it our money or our time), what are the feelings we’re trading for?
Are we being capitalised upon?
Are we making decisions which will serve us over time?
That next Big Mac might feel incredible at the time, but it won’t an hour later. And if that feeling you purchased diminished so quickly, what will it’s value be in twenty years when your health catches up with you?
People are plagued by the fact that we always want, but don’t always know what we want.
Learning to want less, and more specifically is the trick.
Nobody wants a quarter-inch drill bit – but we all want to feel safe, healthy, respected and loved.