Price versus Value

It occurs to me that many people (though none reading this of course)are far more concerned with price than value and sadly some don't even know the difference. Often there is a perception that if something is relatively cheap it must be good value and surprise is expressed when the quality of the product or service don't live up to expectations. Consistent with that view is a defined reticence to pay for service. This jaundiced view is often a function of poor experience, making it harder for those that follow on after. Whilst there is much gnashing of teeth in terms of the lack of service in restaurants for example though by no means exclusively there is a widespread belief it shouldn’t be necessary to pay any differential to receive a better service. The corollary is that service providers can be reluctant to go the extra distance as they cannot receive a commensurate lift in margin because their competitors receive much the same sort of price for less effort. What quality suppliers know of course is that quality service with an appropriate price equals good value. Good value equals happy customers and repeat business. It can be a challenge to achieve this balance and to be frank it is a never ending battle considering competitive pressures and changing cost structures, most of which are outwith our control. What is within our control is doing what we say we're going to do, doing it right in the right time frame and above all with good grace. Whatever is our business, job or role it is our choice to be doing it. That too can be a challenge and we all need help in that regard.