The third way to create value is information. This is the least valuable of the four. People typically don t pay for information in our society. They don t like to buy information, and, when they do, it s called the newspaper, and they pay about 40 cents for it. The fourth component is value itself, typically thought of as price.
Value is probably the most important factor of all.
Give me more for my dollar. I have a budget, and I m trying to get as much for my dollar as I can. People ask me about how people buy cars in America. Americans don t buy cars. They buy payments.