Consider this story from The Tom Peters Seminar:

Author Harvey Mackay tells about a cab ride from Manhattan out to La Guardia Airport:  First, this driver gave me a paper that said, “Hi, my name is Walter.  I’m your driver.  I’m going to get you there safely, on time, in a courteous fashion.”  A mission statement from a cab driver!  Then he holds up a New York Times and a USA Today and asks would I like them?  So I took them.  We haven’t even moved yet.  He then offers a nice little fruit basket with snack foods.  Next he asks, “Would you prefer hard rock or classical music?”  He has four channels.  [This cab driver makes an above-average amount per year in tips].

The conventional wisdom in business today is that, more and more, the products and services being offered are rapidly becoming commodities.  Further, because of consolidation, labor shortages, intense competition, and increasingly sophisticated buyers, prices will be driven down and profit margins mercilessly squeezed.

Well, like so much “conventional wisdom,” this view is more conventional than actual wisdom.  There is no such thing as a commodity.  Anything can be differentiated in the marketplace; consider Starbucks––mere coffee beans and water!  As the economic value base shifts from a service economy to an experience––and ultimately, a transformation––economy, the opportunities for businesses to create a unique, personal experience for their customers are only limited by the constraints of imagination.

Objectives
• Learn how to differentiate your company from the competition and not be defined by a “commodity” offering
• Learn your company’s Value Proposition and the optimal way for you to compete
• Explore the Progression of Economic Value and determine what your company’s is offering
• Consider offering a “Concierge Service” to your best customers
• Gain an understanding of the critical importance of customer selection, and the economics of customer retention and loyalty