Value may be defined as the total amount of money (in dollars) spent on an activity or product and the amount of value (in dollars) created by that activity or product.
Value in this context is used very loosely and it is not the same as the value of an activity or product. It is the value of that activity or product when it is measured against a benchmark or benchmarking period.
It may also be defined as the difference between the cost of implementing an activity or product and the cost of implementing the same activity or product plus an incremental cost of producing the incremental value.
The only measurable activity we’re measuring here is the value of a marketing strategy.
In marketing, the value of a marketing strategy is the value of the activity or product. In value terms, that’s the cost of implementing your marketing strategy. If you are measuring the value of a marketing strategy by its cost of implementation, it will appear in the budget and will be compared against other marketing strategies. If you are measuring the value of a marketing strategy by its cost of implementation, that’s not the marketing strategy’s value.
This is the thing with marketing. All marketing strategy is about maximizing the value of the activity or product in question. In value terms, value = cost of implementation. So the marketing strategy that delivers the greatest value is the one that is the cheapest to implement.
So for a good marketing strategy to be the most cost-efficient, it must cost less than or equal to the value of the activity. You have to be able to sell the value of your marketing activity to customers, so its a good idea to create a strategy that is as cost-efficient as possible. This is why you should always try to develop a marketing strategy that is the most cost-efficient marketing strategy.
In the early days of the business world, the one thing that was really expensive was advertising. However, the first successful marketing campaign was developed by a company that didn’t spend a dime on advertising. It was an invention that became known as “cunning.” The clever company in the first instance was able to make a profit by selling their product at a lower price than it would have otherwise been. But they didn’t have to spend a dime on advertising.
We’ve written quite a few blogs and articles about cunning. The cunning company that first developed the trick of selling their product at a lower price than it would have otherwise been at a certain point in history was called the Chicago Board of Trade.
CBT (The Chicago Board of Trade) was a time-honored example of a company that made money by selling their product at a lower price than it would have otherwise been. The CBT was founded in the early 1700s, and in 1873 they were able to sell their stock for a profit of $100 in the first year.