There is many ways to look at this phrase “Cost vs. Value”. At first thought you would think it is in terms of finances or marketing which of course is important but it is much more than “just” that.
Cost Versus Value effects every decision you make. Or the decision your customer makes when visiting your store or website. What are you (or they) willing to give up or let go of to receive or “get” something of greater value?
Again, I’m not talking just monetary cost because as we’ve been told everything has price tag whether you pay it with dollars or hours. For example, forgoing time spent with family; giving up vacation time; movie time; game time; or a few extra hours of sleep. What are you willing to “pay” to achieve the rewards you are seeking?
Every decision you make has a cost for the value you in return. A decision to grab a quick meal out costs you more than the just the price of food. In addition to the cost, you spend the time to go get it, the extra calories from fast food not to mention the extra cost of the food itself as well as the fuel to drive to and from the restaurant. Are you getting the value you thought for all that you’ve “spent” to achieve the desired outcome of getting a quick meal?
Will you (or a customer for that matter) forgo a week’s pay to purchase a product or continuing education that will increase your (or their) earnings to achieve a better life style?
What are you willing to “spend” to achieve your goals or desires for you faith, family, education, or business?
Will you give up a past life style to gain the life style you desire?
Next time you make a decision, remember everything of true value has a price tag. What are you willing to pay? Is it worth the cost versus the value?