Banks must shift focus from costs to value

A story is told of a restaurant owner who sold a litre of bottled water for $10 (Sh880) — 10 times more than his competitors. He had made his customers believe the water was tapped from some of the best and freshest waterfalls and springs in the world. The truth was that the water was from his garden and bottled without any form of processing. Nonetheless, he roped in sophisticated corporates and individuals as clients, and sold more bottles than his business rivals did.

This story may not have the most moral of messages, but it certainly describes how much people are willing to pay for goods and services when they think they are getting value for their money.