Summary

• Value, or the worth of something, is customer-centric. The customer always decides what is of value to them. Customers buying identical products may be buying it for different reasons.

• If you listen carefully, customers are always willing to tell you what they value. Let your customer tell you what they value and then build and live by a value proposition that serves your customers.

• How a customer perceives the value of your product or service can be described as your value proposition. A unique value proposition will allow your customers to immediately identify why they should do business with you and arm them with a message to tell other potential customers.

• The more aware your customers are of the cost of your product, the more likely they are to use it. The more your customers use your product, the more likely they are to buy it again.

• The purpose of every product is to solve a problem or fill a need. Ultimately, the outcome of every transaction should be to make the customer feel good.

• The only incentive your customers have to do business with you on a repeat basis is the assurance you give them that their next purchase will provide as good a value as the last. Assurance is the attraction to return.

Answers to slogan quiz:

Yellow Pages	"Let your fingers do the walking." (1964)
United Airlines	"Fly the friendly skies." (1966)
U.S. Army	"Be all that you can be." (1981)
The New York Times	"All the news that's fit to print." (1896)
7-Up	"The uncola." (1973)
Timex	"It takes a licking and keeps on ticking." (1956)
Kentucky Fried Chicken	"Finger lickin good." (1962)
Milk	"Got milk?" (1993)
Campbell's Soup	"Mm mm good." (1935)
John Deere	"Nothing runs like a deere." (1972)
Morton Salt	"When it rains it pours." (1911)
Crest	"Look Ma no cavities" (1958)
Perdue	"It takes a tough man to make a tender chicken." (1972)
Maxwell House	"Good to the last drop." (1915)
BMW	"The ultimate driving machine." (1975)
Club Med	"The antidote for civilization." (1982)
FTD	"Say it with flowers." (1917)