Leveraging Business Growth with Value-based Pricing
Unlike legacy strategies such as cost-plus, historical-based, and volume-driven pricing, which tend to decrease price premiums and profits over time, value-based pricing optimizes pricing structure for current market conditions. It can also accommodate market changes without loss of profit. Value-based pricing is a strategic tool to be championed by the executive suite and business unit leads. This paper outlines the elements of a successful value-based pricing strategy.