STRIVE NOT TO BE A SUCCESS, BUT RATHER TO BE OF VALUE. ALBERT EINSTEIN
Nowadays some clients seem to know the PRICE of everything and the VALUE of nothing. We heartily feel that, sometimes, we have to EDUCATE the client.
For most customers price by itself is not the key factor when a purchase is being considered. This is because most customers compare the entire marketing offering and do not simply make their purchase decision based solely on a product’s price. Most of the times price is one of the several variables customers evaluate when they mentally assess a product’s overall value.
In contrast, value refers to the perception of benefits received for what someone must give up. Since the price often reflects an important part of what someone gives up, a customer’s perceived value of a product will be affected by a marketer’s pricing decision. Any easy way to see this is to view value as a calculation:
Value = perceived benefits received
perceived price paid
Will you join us?
If you found our post interesting or useful, please share it on Twitter, Facebook, Instagram or any other media. Thanks for reading!