When in doubt, ask customers what they value most. Learn the costs they care about when making purchase decisions—not just some of the costs, but all of the important ones. Beyond the money, time, and effort they invest in making their purchase, luxury car buyers might tell you that reputation matters to them. Low-end car buyers, on the other hand, might claim that the vehicle’s reliability is critical. Clients of low-end financial services might say they care about access, whereas high-end banking clients are looking for exclusivity. In assessing additional classes of costs beyond money,
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