Title: The Price Of Everything But The Value Of Nothing | KEXINO
Headings: The Price Of Everything, The Value Of Nothing.
The Price Of Everything, The Value Of Nothing.
Price is not the same as value
Price is what you pay. Value is what you get.
Commodity Pricing Wrongly Equates “Value” With “Price”
About the Author
Gee Ranasinha
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Content: The Price Of Everything But The Value Of Nothing | KEXINO
The Price Of Everything, The Value Of Nothing. Gee Ranasinha November 1, 2010 Marketing
Oscar Wilde is credited with the quote “ The cynic knows the price of everything and the value of nothing. ” Today, many of us confuse the meaning of the word “value” with the word “price”. Or maybe the word “cost.” However such terms mean very different things. Especially in business. Speak to a group of marketing people (even if it may be something I wouldn’t wish my worst enemy). Ask them what, in their opinion, would be the criteria for something to be perceived by potential buyers as having a high “value for money” rating. I’d bet most of them would tell you that the product in question needs to either be either: Cheaper than the competition’s offering
Offering “more” than the competition
Of course in the real world the perception of what constitutes “value” is more subtle, and a lot more subjective.