Understanding your customers’ values will lead you to develop products and services that can provide high profit-potential for your business. While you already believe your services or products are superior, you need to step back and look at what you offer through the eyes of your customers so you can measure the value of what you are offering from their perspective. Ask yourself:
•How will each of the products and services offered benefit the customer? What kind of impact will these products and services have on them? •What do they understand to be the value of the package of products and services you offer? •Have you delivered in the past and will you be able to deliver on the promises you make to them in the future? Will your products and services do what you have said they will?
By assessing how your company’s products or services stack up in reference to these questions, you will be able to discover if you are delivering the quality and the value that will keep your customers coming back for more. Once your customers become convinced of the value of what you offer, they will be far less concerned about the price.
Charlie Fewell President Charlie Fewell & Associates Memphis, Tenn.