What Does Value Mean to You?
Years ago, I saw this message on a poster in a client’s retail store, and it has stuck with me because of its simplicity. Price is what you pay. Value is what you get. Cost is what you really pay on the way to realizing value.
People often realize too late the true cost of substituting price for value. Low price does not reduce your risk; ironically, low price can often increase risk and ultimate cost, because the cheaper product or service is often inferior, and will not deliver the desired results. When your product or service meets or exceeds a customer’s expectations, and their wants and needs have been satisfied, they feel they have gotten their money’s worth, and that’s all people really want.
Which crown would you rather wear? Cheap or Good?