Optimize your product pricing: Issue
Are you getting the best price for your products? Unless you are in a commodity market, you should be pursuing a value-based pricing strategy.
What is value-based pricing?
It's a pricing strategy which allows you to extract the full differential value of your product.
How does it do this?
By helping you understand where the value really lies in any given product offering.
Imagine your product as a bundle of features. Each of these features has its own unique value. Sometimes this 'value' is greater than the sum of the parts: two features, when they are paired, are worth more to consumers that the sum of the value of each individual feature.
Understanding which features contribute the most value to your product is the beginning of pricing wisdom. It allows you to: