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A Value Is An Addition of Values

A price can look high if you do not relate to what it represents. A nice leather handbag could be crafted with:

  • - Over 100 years of heritage in leather goods creation
  • - Leather selected carefully, regardless of the cost of the material
  • - Only the best part of the leather being selected, and therefore the more costly
  • - Hand-executed cutting and all processes done manually and individually
  • - Precise stitching, with over 20 hours of work for each handbag
  • - Double quality control processing for each handbag

Table 4.6.A Product value

Cost For The Company

Value For The Customer

Expression Of The Added Value

Brand

Cost to build the positive image and maintain it

Brand image where the customer can benefit by acquiring the product

"We are one of the most reputed leather goods maisons"

"We have true style, very distinguished."

Product

Cost to manufacture the product at the best possible quality level

Quality of the product

"It's not only a handbag, it's iconic."

"The exceptional quality means you have nothing to worry about—it's just perfect."

"You know, a high-quality handbag is not only beautiful but also crafted for long-term enjoyment."

Place,

Service

Cost to build the boutique, and provide the excellent service

Pleasure of the surroundings; excellence of the service

"You can call me any time, my name is Patricia."

"You will be invited to all our future events."

"I hope you are satisfied with my service today and be sure that I will always do my best for you in the future."

Think about everything that costs money to your brand in the making of the product, and change the costs into value: there is a chance to give the added value to your customer, including the service provided. It might seem obvious, but it is still necessary to explain this to your customer (Table 4.6.A).

 
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