Decision Strategy and Data Science for Marketing

Defining Value

The Value Triad is defined as making money, saving money, and emotional contribution.

Once we think in those 3 components, defining value is easy.

If you don’t understand value in these terms, you’re just pissing into the wind. And you won’t reach a very level of business or profitability.

If you don’t learn real economic theories of value you’re setting yourself for a world of pain. Marxists at the top of any business only know selling in hours, and that is proven to be flawed economic value. Not to mention unethical.

The only option from there is to move to price. And pricing is all economic theory.

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