One thing I’ve learned while observing consumer behavior is that people don’t always buy products they can easily evaluate. In fact, some of the most successful businesses are built around products and services where customers may never fully know whether they made the “right” choice. These are called credence goods . Unlike ordinary products, credence goods are difficult — sometimes impossible — for consumers to evaluate even after purchase or consumption. The buyer has to rely heavily on trust, reputation, expertise, or credibility because they cannot accurately judge the quality themselves. And once you start noticing credence goods around you, you realize they are everywhere in daily life. Think about visiting a doctor. Most patients cannot independently verify whether the diagnosis is perfectly accurate or whether every prescribed test is necessary. They trust the doctor’s expertise. Similarly, when someone hires a financial advisor, a lawyer, or even a digital marketing consu...
I’ve often noticed that when people talk about brands, they get excited about what’s new — the next big launch, the trending product, the viral campaign. But in all that noise, one category quietly does the heavy lifting. It doesn’t shout. It doesn’t chase attention. It simply delivers, consistently. That category is what we call a cash cow . In simple terms, a cash cow is a product or service that generates steady, reliable profits with relatively low investment. It operates in a mature market, has strong market share, and doesn’t require aggressive spending to sustain itself. It’s not flashy — but it’s dependable. And in many cases, it is the financial backbone of the entire brand. Let me put this into perspective with something closer to home. Think about Amul Butter . It’s not trying to reinvent itself every year. There are no drastic changes in packaging or positioning. Yet, it sells — every single day, across urban and rural India. The demand is stable, the margins are healt...