Value

Value is the extent to which a product is perceived to meet the needs or desires of the customers, compared to what is being offered by the competition; and it is measured by the customers’ willingness to pay for it. In other words: the value of a product is what really matters to customers. It is what touches them and motivates them to take action and buy the product.

More focus on value will enable entrepreneurs to create better products, innovate more easily and keep the value creation and delivery process going.  A distinctive value delivery leads to more growth, better use of resources and more satisfaction. And ultimately to more results.

By means of innovation, value is being created and re-created. A small change in the value offered by your product, can make a huge difference in your rewards. If you can deliver superior value, you might cause a disruption in the market. But this is not an easy job. If you want to excel, you need to find the right value in your product, in your service and in your deliverables. In order to do so, your team needs a high level of commitment.

Is it worth the effort? Yes, definitely. Value lasts. A value-centered approach will not only generate customer value, it will also produce value for all of those involved in the business process: suppliers, employees, and shareholders.