Value, not price.

 Value is an outcome of the price and the benefits delivered.

Value = price + benefits

As marketers, we are normally consumed by price, it drives our priorities, measures our success, and dictates channel and NPD priorities.

Consumers by contrast, are generally driven by value. Yes, they will take the cheapest price in a category, all other things being even, and given marketers pre-occupation, it often is, but our task is to create value, not just deliver a price.

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
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2 Responses to Value, not price.

  1. Pingback: Anatomy of a demand chain. | StrategyAudit

  2. Pingback: Value, not just price. « Strategyaudit’s Blog

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