A long hard look at the arch of their brow, the steel in their eye?

What you'll see is a new mentality. And if you miss it, you'll pay the price. Because there's a strong shift in client behaviour. We all know that we've become used to and pleasantly addicted to sale prices. We've become hooked on discounts. Retail giants have battled for our dollar and driven down prices to a remarkable level not seen before. Think air travel, milk, mobile plans and plasmas ......yadda yadda. But, unlike previous economic shifts that reflate when the dust settles, price has not recovered this time and it's not going to.

Your customer wants value. Not just ANY value, but 'true' value from each and every encounter. When you can email 100,000 customers at a third of the cost of a stamp, how do you pitch a direct mail campaign? It will have to be a truly creative and exciting campaign to deserve your client's investment. When you can advertise on Facebook and drill down to a raft of new customers quickly and efficiently for a fraction of a local paper ad, how do you justify a print campaign? You have to deliver abundant value. But remember, value doesn't have to mean 'cheap' - think Audi.

Your customer and mine, has a desire which needs to be met. It's delivering fundamental value in each and every transaction. Instead of discounting your usual prices to grab attention, the new rules of play is to deliver that new price each and every day. Your mantra needs to become a value proposition whether you are selling prestige or mass-tige. Smart restaurants brought in the $25 2 course lunch with a tasty drop and probably thought it would be just through the winter on Tuesdays and Wednesdays to keep the kitchen kicking over. Ten years later, it's the norm and redefining upmarket fare. Aldi, Costco, Target and Big W have become the retailers we love to shop because they are providing true value - often without compromising quality. Remember when 'house brand' translated to 'desperate' and 'needy'. It's the fastest growing sector on the supermarket shelf. Who's buying it? You and me.

The biggest mistake you can make in marketing today is to misunderstand the value proposition.

Take the challenge

Rework your business model to define your product and service by 'true' value. What can your business do to reduce prices and increase value - not for just today but for everyday. But remember, a value proposition is not about the lowest price - it's about the best price for 'true' value. You'll drive a new customer to your door and you'll be delighted who you'll meet.

AnneMaree Fitzgerald - marketme.com.au