How to Sell on Value Rather Than Price

How to Sell on Value Rather Than Price

Don't want to compromise on price? Experts explain how to stay competitive based on the value of your product or service to consumers.

In a famous video clip from Penn and Teller's Showtime hidden camera show, diners are lured to an upscale restaurant branded as the world's first boutique vendor of bottled water. A water steward presents each table with a menu discussing the finer qualities of water purportedly shipped in from mountains and streams all over the world, some of which cost as much as $8 a bottle.
Of course, the joke is on the customers because all the water actually came from the garden hose out back, but the message was clear: People are willing to pay more for a product if they think it gives them a truly special or significant value—and if you present it to them in just the right way.
Your company is probably selling a stuff that's a lot more valuable than fancied-up hose water. Selling on value, not price, involves a balance of confidence, personal rapport, and doing your homework, and it's become more difficult as technology gives consumers greater access to price information and competitors. We've talked with veterans of selling their value, and they share some tips on how to make your products stand out in a low-cost world.
Choose Your Targets Wisely

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The World's Biggest Gold Reserves

The World's Biggest Gold Reserves


With the price of gold reaching an all-time high of over $1,050 per ounce, resourceINTELLIGENCE TV have taken the (not very novel) approach of looking at countries with the largest gold reserves

As of June 2009, world gold holdings are are believed to be approximately 29,634 tonnes. But the numbers vary greatly as a percentage of each country’s reserves. For example, the US holds 8,133.5 tonnes of gold which represents 77.4% of its total reserves. Compare that with China, which has just 1,054 tonnes for 1.9% of reserves – and much of the rest is made up by its more than $2 trillion USD in foreign reserves. With the greenback becoming devalued and gold appreciating in value, we are now seeing China and others divesting of USD and acquiring larger reserves of gold, thus pushing the price to new heights.
The question remains: which individual countries have the most gold?

15. Venezuela

Gold reserves: 356.4 tonnes
Percentage of Reserves: 36.1%

Gold Reserve Value: $13.2 billion



Banco Central de Venezuela manages the 356.4 tonnes of gold in the country’s reserves, which amount to approximately $13.2 billion and represent 36.1% of Venezuela’s foreign reserves. Although Venezuela currently has the fifteenth largest reserve on the list, president Hugo Chavez announced in June 2009 that his government has introduced new policies to promote gold extraction and boost its ranking. His track record for efficiency, however, only excels in nationalizing projects.

14. India

Gold reserves: 357.7 tonnes
Percentage of Reserves: 4.0%
Gold Reserve Value: $13.2 billion


The second most populous nation in the world has the fourteenth largest reserves on the World Gold Council’s. The Reserve Bank of India maintains the country’s 357.7 tonnes of gold, which are valued at $14.2 billion and comprise 4.0% of its foreign reserves. India’s current ranking may improve, however, as the government has asked the Geological Survey of India to mine the previously untapped gold reserves in many of its states.

13. Portugal

Gold reserves: 382.5 tonnes
Percentage of Reserves: 90.9%
Gold Reserve Value: $14.2 billion

The birthplace of the sweet fortified wine known as Porto is home to the thirteenth largest gold reserve in the world. At 382.5 tonnes , Portugal’s holdings are overseen by Banco de Portugal and are worth roughly $14.2 billion, accounting for 90.9 percent of the country’s foreign reserves.

12. Taiwan

Gold reserves: 423.6 tonnes
Percentage of Reserves: 3.9%
Gold Reserve Value: $15.7 billion

Renowned for its technology industry and robust economic growth, Taiwan also boasts the tallest building in the world (The Taipei 101 Tower) and the twelfth largest gold reserve in the world. The island nation’s foreign reserves have been reported at 423.6 tonnes. At today’s prices these holdings are worth $15.7 billion and comprise 3.9 percent of the country’s foreign reserves.

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Which Country Has the Highest Income Per Capita in the World?

There are two main ways in which one can determine which country has the highest income per capita. One can look at the Gross Domestic Product (GDP) at its Purchasing Power Parity (PPP), or one can look at what is called its nominal GDP. Although different assessments and different methods reach different conclusions for every spot below the top, it is mostly undisputed that the country with the highest income per capita, by any measure, is Luxembourg.

First we’ll look at the nominal GDP for the top countries, to see how Luxembourg stacks up against the competition in per capita income. Nominal GDP is determined by simply taking the value of all services and all goods that occur in a given year, and dividing it by the number of people living in the country. There is no attempt to compensate for the fact that a certain amount of money might buy more in one country than another, so these numbers aren’t a very good predictor of how much the GDP per capita is worth locally.

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Six Steps to Starting Your Own Business

Got that entrepreneurial spirit? You aren't alone. In fact, two out of three teenagers who completed last year's Junior Achievement Interprise Poll on Teens and Entrepreneurship said they hope to start their own business one day. But it takes more than a good idea and a desire to be your own boss to launch a successful venture.

Just ask Max Durovic. At 18, he increased his odds of making it with formal and thorough business planning. By taking the right steps, he built a booming business before he even graduated from college.

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