DO YOU REALLY KNOW WHAT IT IS WORTH AND HOW TO MANAGE THAT WORTH? Pricing strategies are a subject for another article. In this paper I want to address the issue of value and more specifically – the value that your consumer sees in your product (or service) and how you might maximise the price […]

DO YOU REALLY KNOW WHAT IT IS WORTH AND HOW TO MANAGE THAT WORTH? Pricing strategies are a subject for another article. In this paper I want to address the issue of value and more specifically – the value that your consumer sees in your product (or service) and how you might maximise the price by maximising the perception of value. Suffice to say here in relation to pricing that – while the minimum price might be set by way of a required margin or related formula, only the dim-witted sets the final price entirely on this basis. What consumer will pay for a product or service is ultimately depended on their capacity to pay, their access and the value they see in a product or brand (and as such the worth they place on it). The vale that consumers place on a product or service will in turn depend…