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 …
Max
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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 …
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Marketing BasicsProduct Marketing
Definitions of Product Quality – Different Approaches to Quality
by MaxThere 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 …
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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 …
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Key Pricing StrategiesPricing OptimizationService Pricing
Alternative Service Pricing Strategies – Pricing Services effectively
by MaxDue to the many special considerations surrounding the pricing of services, traditional pricing strategies such as penetration pricing, competitive pricing, and premium pricing may not be suitable. In other words, …
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Marketing BasicsService Marketing
Marketing Mix for Services – 7 Ps of Integrated Service Marketing
by MaxMarketing activity is normally structured around the 4 Ps – product, price, promotion and place. That is, when discussing strategies to market manufactured goods, marketers usually address these four basic …
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Marketing Basics
Relationship Marketing Strategies – Differentiating Relationship Marketing and Transaction Marketing
by MaxOver the past 40 years, relationship marketing has emerged as the accepted paradigm of modern marketing. Essentially, relationship marketing strategies are based on the notion that it is better and …
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Marketing models have undergone constant development over the past 150 years. Before the emergence of the marketing orientation, there have been several eras of different views and concepts. To understand …
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Market challengers may not be the most powerful ones in an industry, but can still be the most dangerous ones due to their aggressiveness. In order to successfully increase market …
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Marketing Basics
Functions of Distributors – What roles do Distributors play for Manufacturers and Consumers?
by MaxIn industrial markets, intermediaries may be the key factor in the success or failure of a company. Particularly in today’s global markets, manufacturers have great difficulty in serving markets directly, …