- Relevance is about having a product or service that really fits someone’s needs and wants. It truly services them, delivering something that benefits them.
- Differentiation means you’re unique in your marketplace.
- Deliver the same thing for the same price. This is a no-go. You can’t just be part of the crowd—but unfortunately, so many things really are marketed just that way! There’s no reason to move from one competitor to another; same for same is no way to sell.
- Deliver the same thing for less. That’s a good proposition. But you have to know that you can deliver lower costs—producing with lower costs, distributing and marketing with lower costs. This strategy also tells consumers you’re going to make some sacrifices to deliver.
- Deliver the same thing for more. Well this one obviously won’t work! It’s a quick way to go out of business, charging too much and pricing yourself out of the market.
- Deliver more for less. This is similar to delivering the same for less. It’s a good proposition, but you have to be able to deliver, and be confident that you have a secret way to hold costs down so that you can continue to deliver on that value proposition.
- Deliver more for the same price. Now we’re getting to my favorites. It’s a great way to differentiate when you do more than your competition, and when you do it for the same price, it’s a better value proposition for your customer.
- Deliver more for more. This is my favorite. Give people more service, higher quality, a better experience—and charge more for it. Even though it costs more, people will be willing to pay more because it’s unique in the marketplace, and that’s the key to making high margins.