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VALUE

HOW INSIGHTSBECOME REVENUE

image IN 1989, STEPHEN HAD one of the worst jobs of his life. He was a door-to-door meat salesman. While the job was pretty poor—selling a new type of processed food to food service establishments—the idea was actually a good one. His employer was one of the first companies in the United States to offer sous vide, a method through which food is cooked inside a vacuum-sealed plastic bag, sealing in juices and freshness.

The company had not calculated what value this would create for food service customers, so it priced its offerings on a cost-plus basis. The cheapest item on the menu was the least costly to produce—chicken ...

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