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Value is not a number

Warren Buffet is famous for saying “Price is what you pay – Value is what you get”. But what is value?

Price is simple to understand it’s a number, value is a different story.

For you the customer it may seem simple, the cheaper the price the better the value, but is it?

If value is not easy to define how does one compare competing products and services based on price alone, the answer is you can’t without coming to grips with value.

Think carefully about what it is you have purchased when you pay the price and buy a product.

Some of the attributes of a transaction based on value would include:

Reliability – If the product or the supplier let you down where does it leave you? Possibly through no fault of your own you have now let your customer down. Where does that leave them and what impression are they left with when it comes to their perception of your judgement.

Quality – The quality of a product or service is foremost evident in consistency, if purchases are made based on price alone then consistency and consequently quality is unlikely to be evident.

Strong service and clear communication – Whether you purchase for your own needs or to on sell to your customer, on time reliable delivery is important. The world is not perfect so when things go wrong honest clear communication is equally important to provide plenty of warning and allow for plan B.

Strong relationships – Whether you will only ever buy one product for your own use or purchase many every month to satisfy your clients needs you will want the best possible ongoing assistance. We find that a partnership approach works best to foster strong relationships which benefits all parties and contributes to allowing us a better understanding of what you the customer truly needs.

Value is difficult to define but it is worth searching for. If you appreciate value but have trouble finding it, contact us to see how we can play our part and help your team get over the line.

Date posted: 2017-01-30 | posted by: zenervd

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