I have spent more hours than I care to remember over the years discussing the merits of price campaigns vs. value campaigns. And I've usually come down on the side of value, although that always seems infinitely more difficult to get right.
In this blog by Inese Smidre of my old pals The Value Engineers, the issue is discussed in detail, with some great examples from John Lewis to the latest British Airways vs. Ryan Air campaign.
The big truth that shines out for me in this is that price is just a number - which is, of course, not unique, while value is a unique human benefit.
The trick is then to define and communicate what value means for your brand. Which is difficult, as value is something personal and different for every human being.
But just because it's difficult doesn't mean that we shouldn't try.