How to price your products based on value

01/23/2012 | Inc. online (free registration)

When one company had difficulty accurately pricing their products, the solution was to use a value-in-use approach, Karl Stark and Bill Stewart write. In this model, "pricing decisions are guided by the value the customer would lose if they used the next best alternative to your product." This approach is most successful for pricing items that don't have direct substitutes, they add.

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