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The Value Game is quite simple to define.

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You need an entry ticket,

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and that entry ticket is having a quality,

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unique service or product offer that comes

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with a superior value proposition
to all the alternatives out there.

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You can find good examples
in the luxury industry,

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in the pharmaceuticals industry,
or in consumer technology.

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You have to understand
what are the alternatives,

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and you have to put value
on those alternatives.

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Then you have to understand what
extra value your product or service

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brings on top of those alternatives,

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and then you have to make sure that
that extra value on top of all the

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alternatives out there
is communicated properly.

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So it requires a lot of marketing
efforts and marketing budgets.

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You can use several pricing
models starting with the most

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basic one, but you can also
be a bit more creative.

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In pharmaceuticals, you can, for instance,

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think about outcome-based pricing.

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In luxury you can also think
about charging for not a

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specific product, but access.

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And you can also think about strategy
where you divert a bit of the extra value

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created by one product,
maybe the most iconic,

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to fuel growth across other categories.

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It's not easy to play the Value
Game, and to play it over time,

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and companies do face
quite a lot of challenges

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determining the value,

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the extra value that you bring
on top of the alternatives,

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especially when a lot of it
is intangible and emotional,

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you need to carefully

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define and decide how much value
you want to share back with your

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consumers, and you want to be fair.

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You don't want to capture all that extra
value on a single product because the

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risk of backlash can be strong.

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You need to make sure that you
maintain that extra value over time.

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On the product side,

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you improve the quality of your product.
The emotional part,

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you need to keep investing in
the desirability of the brand.

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It requires marketing budget. It
requires excellence in the service,

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in your stores, et cetera, et cetera.

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Maintaining a competitive advantage
is the name of the Value Game.

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It's easy to add that extra
value and capture it as a

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one-off. Successful companies,

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they do it over time and over
successful product launches. To do that,

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you need to keep a solid
innovation backbone. Second,

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you need to sustain
investments in the brand.

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You should make sure that you protect
that investment pocket and that you

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always excel at customer service.