Espressopreneur: The Confusion Between Value and Price

"Don’t confuse value with price. When a customer buys a product, he does so because that product has a certain value to him. The cost is up, so you raise your price. It cannot be done. If you raise your price but the value remains the same, you will quickly lose your customer. " — Sayings of Taiichi Ohno, Kanban: Just-In-Time At Toyota.

Damir Perge Commentary: I love Taiichi Ohno. He is one of the greatest business minds in history. I studied him before the concept of "lean" became fashionable...