The Concept Of Value (Discussion)
1. Read the short article titled “Eric Almquist: Managing the Elements of Value”, and watch the associated video.
http://www.bain.com/publications/articles/eric-almquist-managing-the-elements-of-value-video.aspx (Links to an external site.)
If you would like to read more about the Elements of Value, a comprehensive article can be found at this location: the triangle is in Figure 6.
2. Now write up an example from your experience of either selling a good or service, or purchasing a good or service, where you either demonstrated ‘value’, or received ‘value’. Briefly describe this ‘value’. Other than price, what was the ‘value’ offered or received?
3. How do you ‘know’ that value was received? How would you measure this ‘value’?
Please write between 300 and 400 words.
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