Chapter 16

Creating Loyalty and Profits with the Right Price

After outlining the promise and exploring how world-class companies deliver on the promise via people, place, process, and product, it's time to turn to what confirms the value of the customer experience: the price—P6, in the context of the World Class Excellence Model (see figure 4-1).

The term "price" specifically refers to the true cost and value to the customer. Value is what the customer gains from the experience of purchasing your product or service—a combination of a superior product provided by superior people, who create a place that is engaging and deliver a seamless ...

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