Value = Benefits / Costs = (Functional benefits + Emotional benefits) / (Monetary costs + Time costs + Energy costs + Psychic costs)1.
1. Philip Kotler, Marketing Management, Prentice Hall; 11 edition (May 2002)
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So how do you change the value equation? There are five options according to logic and Kotler -- raise benefits, reduce costs, raise benefits and reduce costs, raise benefits by more than you raise cost, or lover benefits by less than you raise costs. What is the best direction for your organization to increase the value equation? Tony
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