In this difficult economic climate even the most affluent customers are looking for bargains. At first glance that may seem to mean lower prices – but, in the final analysis, what it really translates to is value.

Value is not in the price a customer pays, it’s in the benefit they receive. So, no matter what your price, if you can’t offer your customers value for their money, they’re not going to buy.

This doesn’t mean that “dealing” and “price-pointing” are not valid and effective tools. They are – when used appropriately with customers. But it’s also important, especially in today’s economy, for every business to focus not just on price, but on the price/value relationship. If you get that right, you’ll succeed even in a soft economy.