Find Out What Is Value-Based Pricing
Value-Based Pricing Is A Holy Grail In The Pricing Community
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Is Value-Based Pricing The Best Fit For Your Business?
- Your pricing strategy can ultimately determine the fate of your business
- Customer-centric pricing strategies can help businesses to maximise their margins
- Value-based pricing focuses on how much the customer values a product
- It is almost the polar opposite of cost-plus pricing
Discover How To Price According To What Your Customers Value
People are starting to use value-based pricing more, but there is still some confusion about what it is. In the pricing community, it's something of a holy grail. Pricing managers will tell you that it is their favourite and that many people want to shift to it.
But they are still looking at the large majority of businesses. And we can still see reluctance or misunderstanding that is preventing people from moving forwards. Furthermore, it appears that this pricing strategy is more in the hands of consultants than the business community.
This pricing strategy can be challenging to implement in many ways. You must follow a set of rules and cannot simply dive in. There is science behind it; mathematics, economics, and psychology are all involved.
However, if done correctly, you maximise your price by setting the highest possible price based on perceived value.
We created this infographic to give you a quick but informative overview of value-based pricing. What does it mean to price your products and services based on how much your customers value them? What can it do for your company? Listen to our podcast here to learn more.
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