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- Differentiate or die
Differentiate or die
In this issue, you'll learn:
1. How you create value for your customers
2. Two examples of price value proposition
Reading time: 2 minutes.
Late issue
Last week, when I was sick and had to fly a lot for work, it was a real test for me to keep writing this newsletter every Friday.
I am trying to catch up!
Types of value propositions
Price
Cost reduction
“Getting the job done”
Risk reduction
Customization
Accessibility
Convenience/usability
Performance
Design
Newness
Brand/status
Price
Your value proposition is simply low price, so you'll be labeled as an economy or budget company.
Today, it's common for brands that didn't have this business model before to start making sub-brands with this business model to appeal to customers who care about price.
An example: No frills airlines
I will give a personal example of each.
AnadoluJet is a subbrand of Turkish Airlines.
1-only in economy class.
2-A small sandwich with cheese, orange juice, and water.
3-Flies out of second-tier airports.
4-The Boeing B737-800 makes up 86% of the fleet to save money on spare parts.
5-Uses the same online portal, booking system, reward system, etc. as its parent company, Turkish Airlines, to save money.
During COVID, i.e. March 2020, the brand was reconfigured to apply to the entire Turkish Airlines international route network operating from Istanbul Sabiha Gökçen International Airport, consisting of over 20 routes.
Because of these savings, ticket prices can be half the mother brand's.
CABBINN - Innovation meets Price
The interior design of CABINN is based on the way ship cabins make the best use of space. In 1990, when the Fennet family got on the ferry from Copenhagen to Oslo, they thought it would be the start of a nice vacation.
Instead, it was the start of an adventure in a hotel that would change their lives forever...
"People don’t travel to just stay in their hotel rooms – they want to go out and experience the city. The hotel room is a place for resting and sleeping"
There is, for example, the cheap Economy Room, which gives conference attendees the best price for a hotel stay.
The Standard Room is ideal for couples who prefer to spend their money out on the town.
The pricey Commodore Room and Captain's Class offer more space.
Wrap up
1-Differentiate or die.
2-Differentiation is based on value.
3-We've listed 11 ways to do this.
Significant discount for CEOs and Founders
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The October 25th cohort is now accepting applications.
If you are a founder, owner, chairman, or CEO of an SMB, this is for you.
0.4% of firms make $10 million.
1000 hours of coaching proved one thing in common:
It's the 3 CEO systems of vision to execution.
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- Luqman