There is an urban legend about a barber that offered excellent services and charged $15 for a haircut. One day, a low cost competitor began advertising $5 haircuts. As a part of his marketing he included a large billboard by the store of the barber that offered excellent haircuts. The billboard read simply “Haircuts $5”.
To the dismay of the barber offering excellent service, he began losing his clientele to the less expensive rival. His customers didn’t understand they weren’t getting the same quality for a lower price. Despite his efforts to educate them about what they were really getting they kept leaving to try to the other guy. The Siren’s call of low price was just too irresistible for many.
Finally, the barber offering quality service decided to fight back. He created an advertising campaign complete with a billboard near his rival’s shop. The message was as simple as it was compelling. The message was “We Fix $5 haircuts”. Customers finally figured out you get what you pay for and returned in droves