Pricing is a very important aspect of being able to sell a product or a service. I understand this even more after I started my own business. When I started initially, the only way I used to price for our products and services was to determine the cost incurred by us and then adding a suitable margin of profit on top of that.
However, this is not always the best way to get returns for what we have worked for. A much superior way is to price based on the value of what we are offering as a product or service.
This course discusses the nuances of value-based pricing.
While we try to examine all aspects discussed in this course from a general perspective, I have focused on how a small firm should approach pricing for its products and services. Further, while we also discuss general consumer products, I have focused on products and services offered by one organization to another organization.
I have tried to include a lot of examples so that it becomes easy to understand the discussions. The examples are taken from real situations and thus should help understand not only the concepts; but also the various practical implications and remedies.