There is always pressure to reduce prices or increase service quality for the same price. Some organisations seem better able to resut this than others (for the time being at least). It begs the question who decides what is value for money.

In many industry sectors, an increasing market share is being won by companies offering a powerful combination of low price and high quality. The success of these companies encourages others to adopt the same approach. Even without this, the quality standards of products from low cost developing countries is improving by the day. This is changing perceptions of value and rasing customer expectations.

Future profit growth will depend on managing value by

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