S is for Subjective Margins

Posted by Pierre de la Fortune on September 19, 2015 @ 12:01 a.m.

Written by Peter Baskerville and Dr. Neil Flanagan

The art of the entrepreneurial offer is to not fight with competitors on the battlefield of price, but rather to shift the focus to the satisfaction of customer needs. They do this by leveraging subjective or emotive margins. Subjective margins are the margins that entrepreneurs achieve because they know how to perfectly position their offer in an emotive arena where price for the customer is not the issue.

The real issue for the customer is the satisfaction of their emotive need and they will willingly pay a price that has little relationship to the accounting costs of production or the market price of another similar but poorly positioned good or service. The following represent areas in which customers will willingly pay a premium to have their subjective/emotive needs satisfied. (Urgency, Self Esteem, Pain Relief, Fear Mitigation, Scarcity, Unique name, High Emotional Experience, Vital Small Cog, High Sentimental Value or Indulgence)

"The problem with a life ruled by money is that it only sees the price never the value" PB

For more info please visit:http://knol.google.com/k/characteristics-of-an-entrepreneur#view

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Short article that got right to the point.

Thank you for uploading video and posting this article! Ken

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