Miles Kubheka saw an opportunity… and took it
“If your product is good enough, people will pay for value.”
Vital stats:
- Miles Kubheka is the founder of Vuyo’s – a fast-food operation that was launched on the back of a popular beer ad.
A few years ago, Hansa beer launched an ad campaign on television that featured a young entrepreneur called Vuyo who had turned a simple boerewors operation into a global operation.
The ad caught Miles Kubheka’s attention, and he decided to find out more about Vuyo and his wors.
He quickly discovered that Vuyo and his operation was entirely fictional – dreamed up purely for the TV ad. Kubheka was disappointed, but he also saw an opportunity.
A lot of marketing for Vuyo’s had been done through the ads, yet it was a non-existent brand. So Kubheka copyrighted the brand and took it over.
Kubheka had spotted a great opportunity, but he knows that quality is important. No amount of clever marketing can rescue you if customers feel as if you don’t offer enough value. So Kubheka focuses on providing Vuyo’s customers with an exceptional experience and an exceptional product.
Top lesson:
“There are four factors to consider with pricing: Who’s your competition, what are they charging, can I charge a premium if my product/service is better, and do you want to get in at the bottom to see if people like it and then up your prices?”