Fundamental types of value

Time saved

·         1) Faster product or service delivery

·         2) Shorter travel time due to business location

·         3) A product or service that saves the customer time

Time spent

·         1) An atmosphere to enjoy with friends while the product is being prepared.

·         2) A Christmas tree farm an hour out of town to foster “family tradition”

·         3) The time spent at the business is the product.

Money saved

·         1) A lower price.

·         2) More of a product for the same price.

·         3) A volume discount

Money spent

·         1) A unique product (prestige)

·         2) A branded feeling (Michelin tires, Coke)

·         3) Limited availability

Free money

·         1) Improvements to processes that increase efficiency or lower costs.

·         2) Information that increases a customer’s income without extra work.