Do you already consider value-based pricing in your company?
The most important driver of long-term corporate success is the definition of the right price level for products and services. This applies to all industries, but many companies still only focus on methodologies like cost-plus
or simply follow price adaptations of their competitors. Both methodologies don’t consider the Value-to-customer
as the most relevant input factor. Without a profound knowledge of the willingness-to-pay of customers and the perceived value price, profit potentials can’t be exploited.
The key question to ask: What benefits do the customer associate with your products/services and how high is the resulting willingness-to-pay?
Value-based Pricing starts with the customer perspective: You have to think about the willingness to pay and how customers could act in the future (this is demonstrated in our Behind the Curtains Podcast in a short Role Play)Based on this information, the challenge is to work out the company perspective and check the price-volume curve. This is the starting point of value-based pricing.
This webinar episode will cover the fundamentals and best practices of value-based pricing and all sub-methodologies. It will illustrate which methods can be used in which decision-making situations.
Watch the webinar to learn how…
- To apply the value-based pricing methodology in an integrated manner
- The methodology helps you to analyze customer requirements
- It leads to business sustainability and profit increase
- You can make use of the most recent, digital sub-methodologies.
Presenters:
Frank Frohmann
Business Development Manager for Pricing at Vistex
