Value for Money

What is value for money? It is a relationship that is established more or less rationally between the quality of a product or service and its price. The best value for the consumer is one that offers a good balance between the best price and the best quality.

If you want to be on the list of the most admired companies: offer good value for money. However, good customer service is also very important. Of course, you can keep your image by trying to save the planet or supporting a good cause, but that’s not what attracts customers or builds loyalty.

Value for money: a good product with the right price, reinforced by good customer service, that is the key to success for every company. Additionally, the customer doesn’t only know it, but also enjoys it.

The customer wants to show their power and state their claim to the world and social media has become the main tool for doing this. Customers are able to express and share their satisfaction of a product or service, but can also do the same for their frustration as easily. Traders have always known that rumors can make or break a reputation and nowadays with social networks, this phenomenon can happen very quickly.

There are several factors that affect how your prices change, including the prices and products of your competitors. Your goal is to develop a pricing strategy that positions your brand and products against and according to your competitive market. The best way to visualise the position of your business is to use the price / quality matrix below.

High price

Low quality

High price

High quality

Low price

Low quality

Low Price

High quality

 

The position of your products within this matrix depends on the image of your brand, your competitors, and also your price objectives. It is necessary to ask yourself the right questions in order to find the positioning of your activity. Are you looking to maximise your income or profits in the short term? Do you need to differentiate yourself to improve your penetration rate?

At Entegra, we know what we want and where we stand. We want to offer our customers the best quality for the best price and that’s what we do! We do not only build and deliver high quality products, but we step in your world to truly understand our customer’s needs. We help with council documentation to gain planning and building permits and once completed we  will visit the site to ensure the client received exactly what they wanted.

At Entegra, the customer is king – and we will do anything to make sure that they feel that way! For more information about our products, services or any other enquiries, please visit our website: www.entegra.com.au or contact one of our friendly staff members today on: 1300 296 206.

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