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: 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. Just by pricing your widgets 25% cheaper than the ones sold by the guy down the street doesn’t mean that everyone’s going to buy your widgets and no-one’s going to buy his. Why not? Because some customers will have their own rationale why they will continue buy from him and not from you. Perhaps some people value the fact he offers online ordering, or free delivery. Perhaps he puts his widgets in a nicer-looking package than yours.