Price Index – PI

To sample your existing and potential customers’ views on the VFM you offer, first define what is meant by ‘Value for Money’:

The following grid can then be used to determine how your customers assess the VFM you offer

Clearly, your aim should be for responses to lie in any of the green shaded boxes, whereupon you might expect much ‘repeat custom’ – otherwise customers might think your offerings were no better than ‘total crap’ as Gerald Ratner once unwisely described the jewellery he sold

However, it’s interesting to note how some price levels influence customers’ opinions about the quality on offer to them viz:
- A customer is given a glass of wine to taste and told it costs £10 per bottle
- He’s then given another and told the second glass costs £90 per bottle
- Tests show most people say the second glass tastes at least twice as good as the first – but both glasses are exactly the same wine
- People can be that easily misled by price

‘PRODUCTIVITY QUOTES’

The second book in our ‘Productivity’ trilogy

Over 1,000 quotes collected over many years – some amusing, some controversial, most providing insights into business matters

A 120 page reference book for managers – an enjoyable read for everyone – and an ideal Xmas present to boot

About to be listed by www.Amazon.co.uk

ISBN 978-1-910693-72-8

‘Productivity Knowhow’ is the first in our trilogy of books covering productivity issues

It provides the basic knowhow needed by any manager at any level who seeks to make big productivity improvements

The book comprises:

and costs £24.99 per copy from Amazon et alia

The book has been described as:

“A wonderful user-friendly book” – PAPA, the Pan Africa Productivity Association
“A great book” – Senior Editor, UK publisher

To purchase copies, click on the link below: