Value Proposition of a brand is the sum of its rational and emotional benefits minus the cost. Marketers are often perplexed when despite what they believe is an irresistible price, brand sales are tepid. This happens because they fail to factor in the emotional cost that a customer has to pay in making the purchase. For example, the customer may not just be looking at the price tag of an air conditioner while deciding on a brand. To it they will add the cost of anxiety of poor quality. In their minds cost now becomes: price + sleepless nights due to product failure + time spent chasing technicians for repair + cost of repair + taunts from family members + loss of face etc. Have you identified the emotional cost your customer is facing?

2. #Thursdaytip
Grow you brand. Multiply Your Business Value.
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