Does that name ring a bell? Probably not.
Don Beveridge is considered America's Most Outstanding Business Speaker. I had the pleasure of seeing his presentation years ago. He is memorable because he dropped this nugget on all who were in the audience:
"Your business cannot maintain a long term advantage on price and product alone."
He followed that up by asking us if we had ever eaten Fillet Mignon when a Big Mac was available at a lower price. That started the wheels turning in my head. His point was starting to make sense.
In your business is it important to have the lowest price? If you are trying to make a profit it can be destructive to your business. What does the lowest price typically equate to? Poor service, not delivering on time, screwing up the order. You get what you pay for.
Don Beveridge completed his presentation emphasizing that you must offer the customer a unique experience that can't be found elsewhere. One that is not price or product sensitive. Once price is the sole buying criteria, you have gone into the commodity market whether you meant to or not.
Bring on the value...and you won't need to lower the price.
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