The Principle of Marginal Utility tells us that we, and all people, only assess value at the “margins”, which are those parts of otherwise common or fundamental offers that are uncommon, scarce relative to demand or valuable to us as buyers. When evaluating any offer we achieve maximum value by understanding the true cost, which is the time, energy, money and lost opportunities we give up to accept that offer. I know you have noticed that sometimes higher priced offers are actually more valuable. This is due to their lower “cost” of savings of time, energy and/or losing other opportunities – or their superior marginal utilities.
As I was getting a soda from a drive thru instead of my local convenience store, I started thinking about marginal utility. The drive thru was the same price but I didn’t have to get out of my vehicle. As I just had knee surgery, not getting out of my vehicle was a definite bonus. Now I am thinking about how H2O Environmental can offer marginal utility to its clients and the things those clients are looking for?
Here are my top 7 Marginal Utilities!
- Being on time to projects such as hazardous waste clean up sites or safe excavations
- Looking and acting as professionals
- Being knowledgeable about the various tools and safety procedures needed to adequately perform a clean up
- Communicating completely with clients so that they fully understand how H2O Environmental will complete the hazmat clean up and the best way to remain safe during the job
- Having and maintaining a full set of required equipment to be used correctly for each job we do
- Having the right tools to safely and efficiently perform the hazardous materials clean up
- Leaving the clean work site so that the environment can return to normal and future visitors to the site will remain safe
Now that we have specified some areas of importance for producing marginal utilities for clients, how do we continuously get our crews to perform to demonstrate this to our clients? H2O Environmental provides all our employees with the most rigorous, current training available so that we can meet the high standards of not only our clients, but those standards that we as a company hold ourselves to as well.
What are the marginal utilities that you are looking for? With price being similar, what “extras” would keep you using the same professional again in the future? What services would you pay a higher price for because the actual total cost for the normal and marginal utilities is a greater value for you in fulfilling your mission?
If you need help with hazardous materials clean up contact H2O Environmental