What is Value to the Customer #2

This is a follow-up on my previous post. Another example given by Peter Drucker in his dicussion of "What is value to the customer?" is that of women's shoes. To a teenage girl, value is all about fashion. Comfort and price are nearly irrelevant. For the housewife, durability, comfort and price are the primary components of value while fashion is a limiting factor. That is, the shoes must be comfortable and durable, but they cannot be totally out of fashion.

This represents "value" to some, but not to others.
Image from Everything Turquoise.

Value is not the same thing as low price. If you don't understand what "value" is to your customer, then you can't do a very good job of satisfying them.