In all the marketing and business improvement lierature we are constantly reminded to sell on value and not fall into the price discounting trap. So what does that mean, what is value in the consumers mind?

Well it could be any of the following components, or a combination of them:

1. Service – This includes providing a service that people may not want to do themselves (cleaning, car washing) or providing excellent customer service while selling your goods and services.
2. Response – How we respond to a customers requests or needs.
3. Variety – Especially in retail do we sell a varirty of goods that service a range of customers.
4. Knowledge – What experience do we have and how does this apply to the business or service we supply.
5. Quality – How do your products measure up to the competitors?
6. Guarantee – What guarantees do you provide? Do you have a refund policy?
7. Convenience – How easy is it to do business with you? Trading hours, phone or email access, parking?
8. Price – Do you have a pricing proposition that you stick to and can market?

If you are looking to sell on value and want to define your value proposition. Consider the following questions:

1. How do I differ from your competitors?
2. What need do I fill for my customers that no one else does?
3. If I ceased to exist, would my customers miss me?
4. What do my customers want that I do not have?
5. Who are my best customers and why?

If you consider these things carefully you will be able to determine your value position and market your business accordingly.

Nigel Hobbs
Small Fish Business Coaching Sydney
www.smallfish.com.au