Warren Buffett once said, “Price is what you pay. Value is what you get.”
When a customer purchases your product they’re doing so because they believe that you are providing a concrete benefit —whether that benefit is physical (functionality, practicality, price), emotional (aesthetics, prestige), mental (usability, rationale), or spiritual (meaningfulness, identity)—from the purchase.
The more concrete benefits you can offer, the better your value proposition and the greater your customer loyalty. But in order to do that, you have to understand your market and your customers.
In this session, we look at how to break down your customers to gain a better understanding of their wants/needs and build your value around their needs.