Let them beat you on price…but not on value!

If you allow the competition playing field to be on the “price” issue, you lose almost every time. Why? Because anyone can find a way to beat you on price. Anyone can find a way to do what you do cheaper. They may not be able to sustain it for long, but they certainly can find a way to cut corners. There are cheaper mp3 players (Zunes), cheaper flat screen televisions (Insignias) and cheaper cars (Kias). But why can some people charge more for products and services…even in a challenging economy?

The answer is the value you deliver. They can’t beat you if you make “value” the playing field. What value to you give that no one else can give? If you can answer that, you will find the market that you (and only you) own and control. Dominos delivers pizza fast, not just pizza. Oreos are an eating experience, not a cookie. BMW makes great cars, not cheap ones. Disney sells destinations, not a theme park. Barnes and Noble sells more than books so they lead the book industry. Google is more than just another search engine. People will often pay more for increased value.

They can beat you on price, but not on the value you deliver. What  value do you deliver that on one else can touch?

Want to know how to be different in the challenging economy?

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