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How to Compete & Succeed

by Rick Baker
On Feb 20, 2013

Some time ago I took a Marketing course and learned about the Price-Quality-Service Triangle [PQS Triangle].

  

In summary, we were taught a company could provide one or two of these 3 things, but not all three.

What's your business capable of doing?

  • Providing lowest Price?
  • Providing highest Quality?
  • Providing best Service?

We linked the PQS Triangle to Differential Advantage by creating "PQS + DA"...a simple tool to help people hone in on the differences [their clients would perceive] and the advantages [their clients would receive]. That lead to the following 1-Page Tool:

 

              

 

It became clear that few companies can offer the lowest price and survive. So, we "x-ed out" Price as an option...helping our clients focus on Service & Quality...the only 2 options for delivering value to their clients.

Now, we have made another update. We have flipped the PQS Triangle upside-down and precariously balanced it on 2 foundation pieces: Insight and Relationships

 

 

This picture summarizes the business-development advice we provide to clients:

  • Do not compete on Price...for 99% of business a lowest price strategy is a recipe for disaster...find other ways to provide value in the form of Service or Quality or both
  • Identify the specific Differences your clients will recognize in your Services or Quality or both
  • Identify the specific Advantages your clients will receive from your Services or Quality or both
  • Build Relationships with your clients, multi-level if the client makes purchasing decisions by consensus
  • Create and deliver Insights of value to your clients

 

 

Tags:

Marketing | Questions?: The Art of Asking Good Questions | Sales

Comments (1) -

rick baker
8/13/2013 9:33:54 PM #

"Quality means doing it right when no one is looking."

Henry Ford
American Industrialist, (1863–1947)

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