‘Strike balance between price and value of product’

Source: The Hitavada      Date: 26 Sep 2018 10:16:13


Business Bureau,

The Lady Entrepreneurs’ Wing of Vidarbha Industries Association (VIA) conducted a ‘Brainstorming Interactive session with the members’ by Advisory Committee Members of LEW Madhubala Singh and Prafullata Rode at VIA Hall here recently. Apart from this, Dr Abhijeet A Agashe, who is working as Controller of Examinations and Associate Professor at Shri Ramdeobaba College of Engineering and Management, also conducted a session titled “Icing on the Cake”.

On the occasion, Agashe threw light on - relationship between Value and Price. “Only when price is equal to value, does the customer pay for it. When price exceeds value, the product is said to be expensive and doesn’t sell. However, when value exceeds price, people still don’t buy because one doesn’t buy product if one feels it is cheap.
He suggested that the brand should offer value that the target customers would appreciate and are willing to pay for. “Also keep price equal to value, not less-not more. And promise value that you can deliver and deliver the value that you have promised.”

Prafullata Rode spoke about the vision and mission of LEW. “The vision of LEW is development of women entrepreneurs and its mission is to empower women socially, economically, financially and emotionally also,” she said.
Rode further said that LEW is working for women in three categories i.e. one who wanted to do something; who has already started doing business and who is already established as entrepreneur. One of the biggest platform, which LEW is providing through “Udyogika - an All Eves exhibition” to promote their products. She said, there are many women who created, established and grew their business with “Udyogika”.

Madhubala Singh explained the importance of the event. She said, brainstorming helps to generate new ideas and gives constructive outcome with open mind discussions.
Earlier Reeta Lanjewar, Chairperson - LEW welcomed the guest speakers with floral bouquets. She also informed and invited everyone for ‘Udyojika - An All Eves Expo’ which will be jointly organised by VIA LEW and Barrister Sheshrao Wankhede Trust from September 30 and October 3, 2018. the event was conducted by Past Chairperson of LEW, Vandana Sharma.

Formal vote of thanks was proposed by Secretary of LEW, Manisha Bawankar. Prominently present were Adv Prafullata Rode and Madhubala Singh, Past presidents Chitra Parate, Anita Rao, Vandana Sharma and Executive Committee members Poonam Lala, Indu Kshirsagar, Rashmi Kulkarni, Yogita Deshmukh.