Value Over Price

There is an old saying that when everything else is equal you might as well buy the lowest price. That's how the big box discount chains got started and survive in the market today. Many of them just advertise the lowest price and provide the minimum of service to entice buyers to spend their money with them. They get the sale because the buyer can't find enough value to buy elsewhere and pay a little more. Is everyone afriad to add value and charge a premium for it? There is a better way to build a brand and grow a company.

If people just wanted to get from point A to point B any car would do but some want to get there in luxury or in a safer vehicle. That's why people will buy a BMW, Mercedes and yes a few can afford a Rolls Royce. As value is increased the prestige of ownership goes up as well as the comfort of ownership. Every industry can provide higher value to their product or service and be proud of it. The amount of sales may be a little less but the profit is higher and you don't have to be in a price war anymore. Look at what value you can add  that people want and test the market to see if it will sell. You may be surprised to see it will and your brand will grow.

Barry Thomsen is available as a business speaker at conferences, conventions, trade shows and expos anywhere safe in the world. www.idealetter.com