Value Based Pricing
The willingness of customers to pay higher prices for your product or service is based on the value they receive. If you can measure the value of your offering, you have a better chance of developing one that can command a higher price. Our pricing optimization experts use tools and techniques like value-in-use analysis, value mapping, cross price elasticity, conjoint analysis and discrete choice modeling to answer the following questions:
How can you measure the actual value of your offering to a customer?
What is your offering’s perceived value relative to your competitor’s offering?
How might the marketplace respond to a price change for your offering?
Which attributes of your offering have the highest value to the customer?
Which segments of customers will value an offering highly?
When faced with multiple alternatives, how do customers choose between alternative offerings or offerings with a different combination of features?