Lowest Total Cost

We have been discussing the need for businesses to focus on differentiating by delivering specific components of value to a chosen customer group. Certain components of value, when combined, tend to compliment each other to form a more complete offering that will entice customers. In the book, The Discipline of Market Leaders, the authors highlight three main categories that will make it easier to choose a value proposition during the strategic planning process. The first one is referred to as Lowest Total Cost. (The diagram shows some of the possible components of value associated with this category)