Abstract
Abstract Industrial customers have become value buyers. They persue not low price, but least total cost of the purchase. That means price plus the costs of acquisition, ownership, use, maintenance, repair, and replacement. The challenge for industrial marketing and sales is to recognize this development and become skillful value sellers. We sell value when: 1. 0 2. 1. We satisfy customer requirements—expressed and implied—reliably. 3. 2. We do so cost effectively by: • reducing customer cost • avoiding customer cost • offsetting customer cost by increasing his revenue or improving his cash flow.
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