50% of deals fail because the value is not demonstrated   avoid generalities and demonstrate value Competing on price has long been a characteristic of commodity marketing and is now becoming increasingly common for brands. Interestingly, most businesses would rather not compete on price and research suggests that it is often unnecessary. Jeff Bezos, CEO […]

50% of deals fail because the value is not demonstrated   avoid generalities and demonstrate value Competing on price has long been a characteristic of commodity marketing and is now becoming increasingly common for brands. Interestingly, most businesses would rather not compete on price and research suggests that it is often unnecessary. Jeff Bezos, CEO of Amazon, suggests that the best way to avoid focusing on price is to understand the customer and to use that understanding to drive brand loyalty.This is the first of 5 thoughts discussing strategies that might be implemented to avoid competing on price. A 2017 survey found that 50% of ‘deals’ did not proceed because the value was not adequately demonstrated.  Demonstrating value is central to cost-efficient marketing and reducing reliance on competing on price. Demonstrating value helps to rationalise the price being offered, provided that demonstration is tangible. It is common to see advertising…