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There are few better places to observe value creation than outside the entrance of an Apple store. Watch customers as they exit with their elegant, beautifully packaged devices in hand. Sure, they paid a hefty price for the superb design, but just look at their faces, beaming with pride and anticipation! Or online, head over to Facebook and Instagram, where you will see other instances of value creation. Look at the pictures and videos your friends post when they receive a coveted job offer or earn a promotion. Happy faces again.
Apple competes at the top of the value stick by raising customer willingness-to-pay (WTP). Companies that offer exceptionally engaging work create value by lowering willingness-to-sell (WTS) ...
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