The Definition of Value

Wizard Academy Press is a great source for those who wish to write and publish a book.  One of the features on their website is Free Downloads.  I recently downloaded a book written by Roy Williams titled, “Advertising in America”.  In it on Chapter 9 you’ll enjoy a presentation on the topic of value.  Here’s the definition as Roy sees it and an example you’ll find on the J. Peterman website.

Value is simply the difference between the anticipated price and the marked price.

The secret is to raise the anticipated price.

Anticipated price is based on reputation and cache (lighting, display, smell, merchandising, sales people, music, location, greeting, service, design, environment, etc.)

The anticipated price is controlled by everything except that actual product.

Irish Pub Shirt.

Working-Class Irish Pub Shirt

It’s Friday night at the Hog & Fool, a 200-year-old pub off O’Connell Street in Dublin. World headquarters for conversation.

Dark mahogany walls. Lean-faced men. Ruddy-faced women.

The bursts of laughter aren’t polite, but real, approaching the edge of uncontrol. The stories being told are new, freshly minted, just for you, my dear. There is no higher honor.

The room roar is high (but still, not as bad as in certain New York restaurants where you can’t make out what it is you just said).

These Irishmen, in collarless Irish shirts, under dark herringbone vests and tweed caps, have managed to keep their mouths shut all week, saving up the good stuff for now, for Friday night, for this very place, for this very moment…

How could one single city possibly give birth to Yeats, Shaw, Joyce, Wilde, Beckett… and all those here tonight as well?

Working-Class Irish Pub Shirt

Working-Class Irish Pub Shirt (No. 1039), for men and women. Made of soft rough cotton sheeting, well-suited for both the intoxication of talk and the difficult art of listening. Not bad for just hanging out, either. Or, when necessary, for looking interesting.

Simple collar band. Seven-button placket. Stud at neck. No-nonsense. Rounded shirttails. Two-button cuff. No pocket. (You have to carry everything you have in your head.) Imported.

Sizes: S, M, L, XL, XXL.

Colors: Red, Blue, and Green. All nicely faded; they appear to have had some experience of life.