Small businesses can apply the value stick framework to increase their growth by focusing on increasing the Willingness To Pay (WTP) of their customers. This can be achieved by enhancing the product, its associations, the status it confers, the joy it brings, and the social considerations it causes. The aim is to increase customer delight throughout the customer journey. Regular practices should be developed to remind the entire team of the firm's focus on WTP.
Ever wondered what strategies make Apple, Amazon, and other juggernauts so successful? Better, Simpl...
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