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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 …

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 …

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 …

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 …

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 …

Due 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, …

Marketing 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 …