Recently, I was in the United Arab Emirates having breakfast at a buffet. I normally have mixed feelings about buffets - but one thing I enjoy is the opportunity to sample new foods at "no additional cost".
On this day, I was surprised by an offering of "camel's milk". Next to the dispenser, there was a card listing the attributes of the novel milk product - including the nutrients and other data. So, I couldn't help but try it out.
Was camel's milk better?
Well, first, let's define "better". Yes, there was a long list of comparative data between camel and cow - mostly favoring the camel's milk (according to the biased Arab country/hotel). Then there was the taste factor - actually tasted pretty good. "Stronger" (different than I'm used to as an American), but not distasteful. I didn't have to pay any extra for it, so that wasn't an issue. I didn't have to go to any additional effort to drink the "new" milk - it was next to the other types of milk.
Apparently, "is it better?" isn't such a simple question after all.
The formula for determining the value of anything is this:
The Promise (expectation) must be less than the Experience (The combination of:
the Person delivering the service,
the Place the service is delivered,
the Process of the service delivery, and
the Product/Service itself.
And this experience must be be greater than the Price to the customer (the true cost is the cumulative total of the money, time, and effort required of the customer in obtaining the experience.)
All in all, at the buffet, I'm happy to select camel's milk - as long as it doesn't cost me more.
The bottom line: If I have to actually pay extra (in any way), the difference may not be "better" enough for me to change my choice (and buying behaviors).
A lesson for any of us wanting to create a "different AND better" competitive edge for our customers.
Think about it. But more importantly, do something about it...today!
On this day, I was surprised by an offering of "camel's milk". Next to the dispenser, there was a card listing the attributes of the novel milk product - including the nutrients and other data. So, I couldn't help but try it out.
Was camel's milk better?
Well, first, let's define "better". Yes, there was a long list of comparative data between camel and cow - mostly favoring the camel's milk (according to the biased Arab country/hotel). Then there was the taste factor - actually tasted pretty good. "Stronger" (different than I'm used to as an American), but not distasteful. I didn't have to pay any extra for it, so that wasn't an issue. I didn't have to go to any additional effort to drink the "new" milk - it was next to the other types of milk.
Apparently, "is it better?" isn't such a simple question after all.
The formula for determining the value of anything is this:
The Promise (expectation) must be less than the Experience (The combination of:
the Person delivering the service,
the Place the service is delivered,
the Process of the service delivery, and
the Product/Service itself.
And this experience must be be greater than the Price to the customer (the true cost is the cumulative total of the money, time, and effort required of the customer in obtaining the experience.)
All in all, at the buffet, I'm happy to select camel's milk - as long as it doesn't cost me more.
The bottom line: If I have to actually pay extra (in any way), the difference may not be "better" enough for me to change my choice (and buying behaviors).
A lesson for any of us wanting to create a "different AND better" competitive edge for our customers.
Think about it. But more importantly, do something about it...today!
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