CHAPTER 3
Redefining Value in Tough Times
Your customers define value, and their definition is the only one that matters. Although customers define value, the prevailing times define your customers. A buyer’s experiences greatly influence his or her definition of value. This chapter focuses on how and why buyers redefine value through tough times.
Value is an outcome. Buyers compare what they sacrifice with what they gain. If the gain is greater than the sacrifice, that’s value. The bigger the gain, the greater the value. The degree of value is determined by the gap between sacrifices and outcomes. The wider you extend that gap, the greater the value.
Value is also personal. It’s not always rational because we’re not purely rational, we’re ...
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