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The Power Of A Value Strategy
The city centre 7-Eleven fulfils the need of a particular customer. It’s a place for the every day, unplanned or forgotten last-minute purchases, where the worker returning home from late shift might grab headache tablets or a pint of milk. Convenience stores are not trying to deliver a premium customer experience. The business is designed to provide value by taking into account the context in which the customer will use its services. If accessibility and convenience are the pillars of the value strategy, then every business decision the company makes is filtered through that lens.
When a manager questions if stores should stock teddy bears or expensive perfume the answer is obvious. Everything the business does must align with the customer’s perception of the part it plays in his life.
It’s only when we are clear about how we best fulfil our customers’ needs that we can tell a story that resonates with them. In a world of the shiny, new next thing the power of consistently delivering on customers’ expectations is underrated.
Image by rpavich.