All pricers know that price should reflect value. Unfortunately, value is perceived in the eye of the customer, not the seller, and different buyers perceive value in differently. In this article, the author explores strategies for maximizing the value your customers perceive through segmentation.
In this article, the author explores why it is so important to establish the relative value of a product, or the value of a product from the customer’s perspective, before setting product prices and strategies.
Looking ahead to the upcoming 2016 Summer Olympic Games in Rio de Janeiro, this article examines the impressively successful pricing tactics employed by the pricing team for the previous Summer Olympics in 2012 in London. The London ticket team’s work demonstrated the powerful combination of high perceived value and excellent communication can drive higher willingness to pay, as the author explains.