Value is in the eye of…

Articles

What is price? Price is the amount of money required or expected as payment for something. The next question that needs answering is, “Are value and price the same thing?”

The simple answer is NO. Value is either the importance or worth a product or service holds to the buyer. You may say that this is the same thing as price, it isn’t though, and here is why. Whilst the worth of a product or service may be linked to its price, what makes it valuable is its ability to fulfil a need or needs. What is more is that the value of an item may also be linked to time, i.e. the more urgently a need or needs have to be fulfilled, the higher the value of the item.

What is the take away here? It is very simple…if you want to be a successful salesperson, you need to agree with your customer on what their needs are and when those need to be fulfilled. If you do not know what your customer needs and when they need it by, your offer will always be compared to your competitor by using the lowest common denominator (which is price) because you have not created value.

Related news
You or the lotto

You or the lotto

On the 13th January, 3 people won the American Powerball lottery and shared a massive US 1.6 billion, the equivalent of R26.56 billion! In the lead up to this, I spoke with friends in America who were excited about the opportunity ...
The Most Beautiful Music

The Most Beautiful Music

First came the Internet, then came Live Chat and now we have Social Media. Information that once took months to travel now happens in seconds (and in full high definition). What we cannot deny is that every day that Google, Facebook ...
Sales Hunters Added to The Endangered Species List!

Sales Hunters Added to The Endangered Species List!

Extinct species include the Dinosaurs, Woolly Mammoth, Cape Lion and the Sales Hunter could shortly be added to that list... Where have all the sales hunters gone? With every meeting I have with sales leaders, it becomes more and ...
Happyology

Happyology

You are responsible for your own happiness The secret to making massive profits can only truly be achieved with happy staff. It's called the Happy Bottom Line™! The latest research has shown that not only is it possible to ...