UNDERSTANDING THE CONCEPT OF "PLACE VALUE"

The other day a friend of mine went out to visit his aunt in a hotel were she had come to stay for a few days, these is just probably a three or four star hotel, and while we talked he pointed out to me that the bottle water he came back home with is worth 2500, this is the normal Aquafina 75cl table water by pepsi which is sold at the rate of 300 or 350 at most depending on location.

I was shocked staring at the bottle water in my hand, like this is 2,500 something i can get for 300 naira normal price, thats almost like 100% price difference just as a matter of location and place, one might want to think its outrageous for this price but the reality is the packaging of the product and place value has affected the price of the product.

It is same bottle water, same content same container, in fact nothing was added or subtracted, in this case the place value is solely responsible for the price.

I will likely talk about this in two different aspect as it relate to us humans and also as it relate to our business

First off, when it comes to business, and products or services price tag, the major determinant to the pricing is the packaging of the product or services, this goes a long way to influence the price tag of the product or services, second factor that influence the price tags is the place value or what i would call place packaging, the place value has a greater influence on the price-tag of a product or services, this is the reason why businesses especially production/service oriented businesses, they spend huge amount of money to buy equipment to fix the entire space, to make it look eye catchy, beautiful and to represent the value of the business, businesses spend money on interior/exterior package of the place investing in the ambiance, atmosphere and general aesthetic beauty of the place so as to capture the minds of their customers, when this is achieved, it has greater influence on the price tags of every products and services sold there.

In the aspect of the bottle water with a huge price tag is a simple case of place value, the bottle water is same everywere same water, same container but for the singular reason of being sold at the hotel has skyrocketed it value.

To the flip side, how does place value affect us as human, in our case its not really a matter of place value but self-packaging, packaging here isn't about the physical outlooks but in terms of in ward packaging here i am referring to your set of skills, values, experiences, exposures etc. What you can offer, problems you can solves, things you can create all of these determines your worth.

This is the reason why companies will sort after highly skilled individual in specific areas and are willing to pay them huge salaries with bonuses and allowances plus other incentives that accrued to them simply because of what they can offer, solutions they can proffer to issues in the company, helping the company scale through in sales and production, that is why they are paid higher and well above every other staffs, most companies go a long way to offer a very comfortable life with all that theor staff could want, this is done so that they don't have any reason to leave them, because of their value, what they offer to the growth and sustainability of the organisation.

IN A NUTSHELL

IT'S easy for people to complain, rant and talk about almost everything, i almost did same about the price of the bottle water, but then i realise there are places that this same bottle water is way more expensive, PLACE VALUE, on the flip side people complain a lot about the society, the government, about the companies, and almost about everything, but the saddest reality is that they haven't invested enough in themselves. SELF-PACKAGING so they complain about how everything is going wrong in their lives, i stead of investing in themselves by acquiring a skills that add values to to them which further place them on demand and relevant in life...