When pursuing a value-based pricing strategy, the core focus is on Willingness-to-Pay. What are customers willing to pay for given product or service. This can of course be on the overall level but for proper value-based pricing, it should also be on the feature level. How much value do customers put on individual features or combinations of features. This is where Conjoint Analysis comes in handy.
Supporting Value-Based Pricing with Market Research: Conjoint Analysis
Posted by
PriceBeam on November 10, 2017
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Topics: Pricing, conjoint analysis, value-based pricing