Value-based pricing is, as the name suggests, based on the value a good provides to a customer. The value at the heart of pricing strategy is economic value (or exchange value), not use value. Thus, to determine a proper value-based price, economic value estimation becomes important.
The term value commonly refers to the overall satisfaction that a customer derives from using a product or service. Economists call this use value—the utility gained from the use of…
While traditional organizations remain the norm, a relatively new phenomenon, the virtual organization, has arisen as an additional form of doing business. What is meant by the term virtual organization…
Marketing is an incredibly fast changing world. Therefore, it is often difficult to keep track of current literature and marketing must-reads. We would like to point out some of these…
There are different definitions of product quality. What is actually meant by quality? How do you measure it? As you may realize in the following, quality has many facets and…
Over time, industrialization (of services) has come to mean standardization, routinization and ultimately the McDonaldization of services. What is meant by this term and what might be the downsides of…