Adding Value Beyond Your Product or Service

In this Marketing Minute, Bill Carmody emphasizes that the true value you offer customers extends beyond the product or service you sell. He explains that while many focus on their product's features, the real differentiator is the unique value added through delivery, engagement, and follow-up. This unique value is what keeps customers loyal, as products and services can be easily replicated by competitors. Carmody urges viewers to clearly define and communicate the additional value they provide to stand out in the market.

What is a common misconception about the value added to customers?

• It is the price of the product.

• It is the brand name of the product.

• It is the way you market the product.

• It is the product or service itself.

Which of the following is NOT mentioned as a way to add value beyond the product?

• How you deliver the product or service.

• The way you engage with your audience.

• The design of the product packaging.

• How you follow up with customers.

Why is it important to add value beyond the product or service?

• To increase the product's price.

• To ensure customer retention.

• To reduce production costs.

• To expand the product line.

What can easily be replicated by competitors?

• The unique value you add.

• The product or service itself.

• The customer service experience.

• The brand's reputation.

What should businesses focus on to keep their customers?

• Lowering prices.

• Adding unique value beyond the product.

• Increasing advertising.

• Expanding globally.