Value Perception – secret weapon of the world’s most successful companies
In the marketing industry, perhaps more than any other industry, buzz words have become as common as black, collar-less shirts and funny-looking, yellow-tinted glasses. This trend of overusing certain terms is unfortunate because it corrupts perfectly good words, turning them into meaningless jargon. Like the word “synergy” and the term “paradigm,” the concept of “value” has been misused and hammered into a meaningless pulp of broken promises and worthless schemes. The real trouble is that the concept of VALUE is the only thing that matters when it comes to winning in a competitive sales and marketing situation.
Why do customers buy one product over another?
The answer is simple. People choose one product or service over another because they perceive a higher level of value. It doesn’t matter whether the purchase is a bottle of cough syrup at the drug store or a multi-million-dollar industrial deal, the perception of value is ultimately what drives the decision. Making this happen, of course, is not so simple.
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