Cost and Value (IM 609)

A $150 bottle of wine takes almost the same time as to make  $30 bottle of wine. A $50 worth of Nike sneakers can last as much a $200 worth of Nike pairs.

In most of the cases, the cost of the stuffs is not relevant. The cost cannot add value to the stuff. And people pay attention to its value not the cost. Customers don’t care about what the time or energy it took for you to make those products. They care about what values your product will add to their life.

It’s always about the values. Value is primary; everything else is secondary.

 

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