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Prescription for Excellence by Joseph Michelli

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CHAPTER 6Delivering Exceptional Outcomes Here and Now

Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction, and skillful execution.

—WILLIAM FOSTER

Unless you are in a commoditized business in which offering the lowest price is the only essential component of your success, you have to consider how consumers perceive the value of your offerings. In most businesses, value can be calculated by combining the perceived quality of the products or services with the perceived quality of the consumer’s experience and then subtracting the price charged for those goods or services.

Value = (Perceived Quality of Product + Perceived Quality of Service Experience) – Price

If consumers believe that ...

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