What is Value-Based Pricing?
The Superior Way to Set Pricing?
Value-based pricing sets prices based on how much customers value a product. Many pricing experts believe this is superior to basing prices on a company's internal costs. In this video, I'll:
- Show how value-based pricing may be superior to cost-plus pricing
- Explore how customers value a product
- Walk you step-by-step through how to determine an effective range of prices according to value-based pricing (hint: It's in the video thumbnail above, but I go into much more detail in the video.)
- List the pros and cons of value-based pricing