Purchasing anything entails paying a price. But, what is exactly a price? Prices may seem so trivial. It’s what you pay, isn’t it? But is that really all there is …
Category:
Pricing Basics
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Key Pricing StrategiesPricing Basics
Overview of Pricing Strategies – Finding the right pricing strategy for your products
by MaxVarious pricing approaches and strategies are available to the marketer. How do you find the right pricing strategy for your products? At first, it is essential to get an overview …
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Key Pricing StrategiesPricing Basics
Role of Reference Prices in Pricing Decisions – Reference-based Pricing
by MaxReference 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 …
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Key Pricing StrategiesPricing Basics
Economic Value Estimation – How to estimate Economic Value?
by MaxValue-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 …
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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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Pricing BasicsPricing Optimization
Initiating price changes –Initiate price cuts and increases successfully
by MaxIn many cases, companies must initiate either a price cut or a price increase. But initiating price changes should be done right to lead to success. Just initiating price changes …
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Key Pricing StrategiesPricing Basics
3 Major Pricing Strategies – Customer Value-Based Pricing, Cost-Based Pricing, Competition-Based Pricing
by MaxFor every product, the company has to choose a price. But determining the price can take many ways. Most importantly, it should follow a predetermined strategy. 3 major pricing strategies …