Saturday, April 09, 2005

Evolution 7: "What is value?"

Every customer's interpretation of "value" is different.

In some cases value is driven by the need to generate new approaches, new ways of doing same old things.

In other cases it may be seeking something new altogether: a new product, developing a new distribution channel, that kind of thing.

At times it's about getting something done quickly. "I need this yesterday, and no one else I know can do it right now."

Sometimes value is about "time"; in other cases it's about talent or experience or expertise. And if you think about it, it's always - one way or another - about that age-old economics system we call supply and demand.

I'm reminded of something Beverly Flichman said to a publisher's rep about his proposal that if we answered within the hour we could have an ad on the fourth cover of his magazine for an unbelievable price. A one time offer, but hurry.

I'm paraphrasing Beverly's response: "Don't confuse for a minute that your need to sell this to me right now matches my need to buy it."

Isn't that what "value" is all about: What you'll pay vs. my price for selling (or creating)?

Maybe "ideas" aren't that difficult to price after all.

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