In marketing, you often find the presentation of products as a bundle of benefits that the consumer obtains. What does this concept exactly mean and how can features be converted into benefits? Why is it important to understand products as a bundle of benefits rather than as a bundle of features?
Reference pricing is a pricing strategy that uses a pre-defined reference point to set the price for a product. In the following, we will explore the role of reference prices…
Market segmentation is one of the most important tasks in marketing. Particular attention should be paid to value-based market segmentation. Identifying subgroups in a market guides marketing and sales decision-making…
Value-based pricing requires the estimation of the economic value of a good. For this, estimating differentiation value becomes important: to what extent does a product or service provide additional value…