By Jeffrey J. Fox, Richard C. Gregory
How businesses flip value-added into genuine profits
The Dollarization self-discipline exhibits companies and retailers the way to successfully converse the industrial worth created via their services. Too frequently, while businesses compete utilizing traditional revenues and advertising techniques, they strength consumers to make monetary judgements (how a lot to spend), in keeping with non-financial arguments (product positive aspects and benefits). in this taking part in box, the corporate that could convey actual monetary virtue in actual funds and cents wins whenever. This e-book deals a step by step method for doing simply that.
Every day, sturdy businesses undergo simply because they bring about worth for purchasers yet aren't capable of hold their fair proportion. for the reason that such a lot sellers can't totally clarify the price shoppers get from their items, and the argument falls to the bottom universal denominator-price. the answer is an method of revenues and advertising that is going past articulating good points and advantages, yet calculates the financial price a purchaser gets from a services or products. this permits the vendor to cost the product as a real mirrored image of its value-and additionally let's the vendor turn out it to the customer!
With actual case experiences and special, step by step assistance on potent dollarization, The Dollarization self-discipline eventually deals a pragmatic, undemanding approach for sellers and enterprise leaders to turn out the worth in their "value-added."
Jeffrey J. Fox (Gilford, New Hampshire) is the founder and President of Fox & corporation, Inc., a advertising consulting enterprise. Fox is usually the writer of the bestsellers easy methods to develop into a CEO, tips on how to develop into a Rainmaker, and the way to turn into a good Boss. Richard C. Gregory (Farmington, Connecticut) is a Senior advisor with Fox & corporation.
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Extra resources for The Dollarization Discipline: How Smart Companies Create Customer Value...and Profit from It
2). 2 The Leverage of Price and Proﬁt Source: Michael Mara and Robert Roriello, “Managing Price, Gaining Proﬁt,” Harvard Business Review (September–October 1992): 85. qxd 7/21/04 12:21 PM Page 25 25 Why Dollarize? 3. 1 percent in incremental unit volume at the new reduced price in order to generate the same amount of gross margin dollars he or she was producing before the price cut. STRATEGIC VALUE OF DOLLARIZATION In addition to winning new sales and improving pricing, dollarization also enables the marketer to gain a deeper understanding of the customer.
Vice President, we have been working with your production and purchasing departments and have identiﬁed some problems we can help your company solve that will generate more than $40,000 in immediate savings. You have some good people in the purchasing group, and they are working hard to get the lowest price for this product. qxd 7/21/04 12:24 PM Page 53 Dollarization and Selling Your Price 53 considering, but the total cost picture is better by $40,000 if you go with our solution. Would you consider evaluating this opportunity?
It is also important to understand as sellers that the price-only customer is ﬁckle and probably not a healthy addition to the selling company’s customer portfolio. Price-only customers do not merit much investment of selling resources. Guard against the price-only customer! We have seen thousands of salespeople over the years. Many fold when a price objection is voiced by a customer, while others rise to the occasion. Two of the best we’ve seen handle the price objection do it quite differently.
The Dollarization Discipline: How Smart Companies Create Customer Value...and Profit from It by Jeffrey J. Fox, Richard C. Gregory