Saturday, March 8, 2008
We are aware of the phenomenon, that HIGH QUALITY of goods creates premium for products. Consumers are willing to pay higher for products of superior quality. INNOVATION in products also creates premium ... now this study establishes that consumers are willing to pay a premium for products produced with fair labor practices. This is a new dimension. Thus, we see price is a function of labor practices, innovation, and quality.
Friday, March 7, 2008
What is of value?
For a customer, the product or service performance is of value; for a salesman, generating customer delight, enjoying the job and earning salary + commissions is of value; for a shareholder, an increase in share value and dividend is of value; for the senior management, having a loyal, committed, efficient workforce, cash flow, high shareholder value, positive relations with business associates is of value and last, not the least, efficient and effective processes for a super healthy balance sheet.
Today's business world is complex
There is competition of every type - brand, generic, and conceptual; various eddies and disruptive forces are constantly in motion. And in this wired and dynamic business situation, products, and services should be profitable, value added, and should generate customer delight.
I GOT THE IMAGE FROM HERE.