Mastering Value Based Pricing

Pricing is an important aspect of selling a product or service. This is something I learned more about after starting my own business. When I first started my business, the only way I could price our products and services was by determining the cost of the product and than adding a reasonable margin of profit. This is not always the best way of getting returns on what we have worked so hard for. It is better to price based on the value of what we offer as a product or service. This course will discuss the nuances of value based pricing. Although we attempt to cover all aspects of this course from a general perspective, I have emphasized how small firms should approach pricing for their products and services. We also discuss general consumer products. However, I have emphasized the products and services offered by different organisations. I tried to include many examples to make it easy to understand the discussions. These examples are based on real situations and should help you understand the concepts as well as the practical implications and remedies.