In the previous chapters of The Founder’s Guide to Building a Successful Business I discussed the importance of giving value to your customers. How that can be the key differentiator for your product. In this chapter, we will study this aspect in detail.
A few years back, an Indian mobile network operator, Aircel, had released ad campaigns with the tagline “Thoda extra milta hai toh, accha lagta hai na.” It means it feels good when we get a little extra. That’s the mantra for a successful business too. To go that travel mile where other businesses haven’t gone.
Adding value is directly proportional to how well a business does as it helps to retain customers, increase brand awareness, and differentiate one’s place in the marketplace.
Value Curve is a marketing tool that you can use as a guide to create and leverage a new market space. If your product is in a highly competitive and typically mature industry, this tool will help you immensely.
Next, it’s time to decipher your customers’ needs, wants, and desires. Let’s see what they are in the next chapter.