We know the price of everything the value of nothing
We do not buy a product or service but, the satisfaction of a need. As Ted Levitt wrote: people don’t want quarter-inch drillers, they want quarter inch holes.
The personal and subjective need of the single individual determines the real value of everything. A company or organization must extoll that particular value to better sell but, values are subjective: 100.000.000 people = 100.000.000 perceived values. No one can deal with 100.000.000 different Marketing Mixes.
The 3values Marketing leads all perceived values back to only 3 perceived values: Product+, Solution and Emotional Starter.
In our heading:
:: the chair, which is bought to answer the simple need to sit, and is chosen among many for a little plus (a nice colour, a high back, etc.) is the value “Product+”;
:: the chair, which grows with our children solves a problem and therefore is the value “Solution”;
:: the chair by the famous designer Munari, on which is impossible to sit, satisfies an emotion (I am cool, I experience the world of design, etc.) is the value “Emotional Starter”.
The same product/service, with a different Marketing Mix, can be sold as any of the 3 values.
Each value introduces different competitors and requires different choices as far as product, price, place and promotion are concerned.
A “Product+” meets a stiff price competition, the price of a “Solution” depends on the cost of the problem it solves and the price of an “Emotional Starter” is compared with everything which can start the same emotion.
3value Marketing has been founded by Daniela Gilardelli.
For example, depending on a different Marketing Mix, a bicycle can be sold as:
:: “Product+” (sometimes I like to cycle), competing with other bicycles only;
:: “Solution” (to solve the problem to park near the office), competing not only with other bicycles but, also with motorcycles, busses and Metro;
:: “Emotional Starter” (I feel free in the nature), competing with a very large variety of offers from a surfboard to a Safari trip.
3values Marketing offers a lot to companies and organizations.
With the 3values Marketing we can:
:: give a customized Marketing Mix to a very large and diversified target, because our target is defined by their desired value and not by socio-demographics;
:: sell at better prices and gain customers loyalty, because we give them the value they want with the Marketing Mix they want;
:: find clients ignored by the competition;
:: avoid useless or negative expenses and investments;
:: move our offer from the low profit “Product+” target to the higher profit targets of “Solution” and “Emotional Starter”;
:: have a new profitful definition of the competition.