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Sometimes when we point out certain practices which form part of the economic system, we cannot help but feel a little conned in some way. If you feel that way about being sold stuff then you’ll probably have a hard time crossing over to the other side of the fence and becoming a seller, but then again on the other hand this could be used to your advantage in that you can be sure to be the change you want to see. You will go about your business of selling whatever it is you find a market gap to pursue with the kind of integrity you’d like the people who do business with you to maintain. You will focus on giving fair value for the price you charge!
With that today’s discussion brings into focus one of these practices of the trading industry which makes people feel like they’ve been done in a bit and by the trading industry I’m not referring to the Stock Exchange. I’m referring to trade in the original sense of what the word means – exchanging goods for perceived similar value, which in this day and age is a practice that is dominated by the use of money as the medium of exchange.
Anyway, value re-packaging is what I’m talking about and once you learn about the practice and try to see it in pretty much any trade scenario, that’s exactly what’ll happen – you won’t be able to “un-see” it. So what exactly is value re-packaging?
In its most fundamental form, value re-packaging is the practice of selling some kind of value which you might have created or acquired at a lower price, more than once by changing its phase. Let’s have a look at an example of this in action, in the real world.
If there is one thing the internet is really good for these days, it is its ability to allow us the privilege of searching for information which is relevant to a purchasing decision we’re contemplating. You can justifiably say a lot about the value of the information you otherwise get if you wanted to learn something new for example – something technical, but if you wanted to find reviews on something like the best photo book to buy, you’ll have plenty of information to use.
Now, there’s a certain amount of money you’re probably willing to pay for that photo book based on its perceived value, but there are various ways through which you could re-package that value and perhaps be the one to make money out of reselling that photo book. For example, if you’re a photographer and you’re good at shooting some great pics, a wedding photography package you offer could include just delivering a digital version of the pics as the entry-level package, while add-on packages which will undoubtedly cost a bit more could include something like printing those pics and presenting them in photo book format, creating a website perhaps which is nothing more than a photo journal of the day’s proceedings, etc.
This is how you take value in its original form (the digital photos shot) and re-package it to benefit out of it many times over and get paid, of course.