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Killer Ideas, Not Killer Deals: The Art of Value Creation
In today's world, simply competing on price is rarely a sustainable strategy. Cutting prices or running constant sales promotions may drive some short-term results, but often destroys brand value over time. The most innovative brands lead with generous ideas first - creating products, services, and experiences that truly resonate with customers' needs and preferences.
For example, Apple never competes on price. Instead, they invest heavily in design, user experience, and branding to differentiate themselves. Their generous ideas around simplicity, aesthetics, and seamless ecosystems command incredible loyalty and allow them to maintain premium pricing. Compare this to brands that get caught in a race to the bottom on pricing.
My key takeaway is that focusing merely on price reveals a lack of imagination and customer insight. Truly innovative ideas create so much intrinsic value that price becomes secondary.
Does this quote ring true in your experience? What brands come to mind as exemplifying the power of ideas over pricing?
#MarketingInnovation #GenerousIdeas #ValueOverPrice #SethGodin