Cost vs. Value

Why don’t kiwis understand the term ‘value’ in relation to their products?

To easily do we see the value of a good/service being described as the cost of making the product plus a certain arbitrary ascribed mark-up percentage.

Value is defined by what someone (your customer) will pay for your product or service – something that will be vastly different to this marked up figure. Hopefully more!

Best way to find out? Ask the customer.

____________________________

Graeme @ graemefielder.com

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