noname-300x300My wife along with thousands of other moms are brand loyal to Laura’s Lean.  They will pay more for the beef and buy it even when it’s not on sale.

Why?

I think its because of Laura’s unique perspective.  She saw the beef industry (and her business) in a different way and brought that perspective to the market.

The company provides insight to their unique perspective on their website stating:

When Laura took over the family business in 1985, it was a tough time to be a cattle farmer. Beef had developed a reputation for high total fat, saturated fat and cholesterol, and many health-conscious people had cut back or given it up completely.

Laura had these same concerns about food and health, but realized that as a farmer, she could make a difference. She began experimenting with lean, gourmet breeds of cattle like Limousin and Charolais and committed to raising them without hormones or antibiotics. She also believed that sustainable farming practices and humane treatment would produce happier animals and healthier food.

Here is the takeaway (Pain point, Products, Performance, Price):

Laura saw an opportunity based on a pain point.

She developed a set of products that addressed those pain points.

She communicated in simple terms how her products outperform the competition.

She decided what price the market would pay.

As you look to innovate in your business/industry.  Look at this simple formula as a guide to help you.