Value Merchants: Demonstrating and Documenting Superior Value in Business Markets
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Do your salespeople feel under extreme pressure to retain accounts or gain new business at any cost? If so, you may be leaving big money on the table. Consider the integrated-circuit supplier representative who lost $500,000 of potential profit on a single transaction, just to "win" a deal that he would have closed anyway at the higher price. Do not make price concessions. Become a value merchant instead. In this authoritative book, James Anderson, Nirmalya Kumar, and James Narus explain how companies in business markets can use customer value management techniques to estimate the value of your market offerings, create value propositions that resonate with your customers, and maximize the return you will get on the superior value that you deliver. Drawing on extensive research and detailed case studies of companies like Sonoco, Tata Steel, and Quaker Chemical, Value Merchants will change the mindset and behavior of your executives, sales management, representatives, and marketers-as well as your customers. CRM.com a set of business techniques to estimate the value of your market offerings and create propositions that resonate with customers.
Preface ixAcknowledgments xiValue Merchants: Doing Business on Demonstrably Superior Value 1Conceptualize Value: Focusing on What Matters 21Formulate Value Propositions: Identifying Potentially Valuable Points of Difference 41Substantiate Value Propositions: Demonstrating and Documenting Superior Value 59Tailor Market Offerings: Creating Naked Solutions with Options 81Transform the Sales Force into Value Merchants: Selling on Value, Not Price 107Profit from Value Provided: Earning an Equitable Return 135Prosper in Business Markets: Being a Value Merchant 165Relating Customer Value and Price 183PeopleFlo EnviroGear Pump Customer Value Model 187Notes 191Index 197About the Authors 217
