Value First, Then Price: Building Value-Based Pricing Strategies

Value-based pricing is the most effective and profitable pricing strategy, and Value First, Then Price offers a quantitative methodology to value pricing through real-life industrial and B2B cases. It provides students and researchers with data-driven conclusions and gives sales and marketing managers the theories and best practices to quantify the value of their products and services. The 2nd edition has been updated with three new chapters on case studies and best practice examples.

\n Format: Paperback / softback
\n Length: 272 pages
\n Publication date: 28 December 2021
\n Publisher: Taylor & Francis Ltd
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Value-based pricing, a strategy that focuses on pricing a product or service based on its perceived value to the customer rather than solely on its cost, is widely recognized as the most effective and profitable approach. This approach not only enhances customer satisfaction but also drives business growth and profitability.

In order to implement value-based pricing effectively, companies need to develop a comprehensive understanding of their customers' needs and preferences. This involves conducting thorough market research, analyzing customer data, and identifying the specific value that their products or services provide to customers. Once companies have a clear understanding of their value proposition, they can set prices that reflect this value and communicate it effectively to their target audience.

One of the key advantages of value-based pricing is that it helps companies differentiate themselves from their competitors. By offering a product or service that is perceived as being more valuable than its competitors, companies can attract and retain customers, ultimately driving sales and revenue growth. Additionally, value-based pricing can lead to higher margins and profitability, as companies are able to charge prices that reflect the true value of their products or services.

There are several different approaches to value-based pricing, including cost-based pricing, competitive pricing, and value-added pricing. Cost-based pricing involves setting prices based on the cost of production, distribution, and marketing of a product or service. Competitive pricing involves setting prices based on the prices of competitors in the market. Value-added pricing involves adding value to a product or service and then charging a premium price for it.

Value First, Then Price is a groundbreaking book that offers a quantitative methodology for value pricing and provides road-tested examples of its application in real-life industrial and B2B cases. The book provides a comprehensive overview of how leading companies quantify and document value to customers, and offers valuable insights and best practices for sales and marketing managers who want to quantify the value of their products and services to industrial and B2B purchasers.

The 2nd edition of this highly-regarded text has been updated in line with the latest research and practice, and includes three new chapters that cover new case studies and best practice examples of quantified value propositions, the future of value quantification, and value quantification for intangibles. The book features contributions from global industry experts who bring their expertise and experience to the table, combining cutting-edge research on value quantification with practical, real-life examples.

Value First, Then Price is an essential reading for postgraduate students in Sales and Marketing with an interest in Pricing Strategy, sales and pricing specialists, as well as business strategists, in both research and practice. The book provides a comprehensive and practical guide to value-based pricing, and helps companies develop and implement effective pricing strategies that drive business growth and profitability.

In conclusion, value-based pricing is a powerful strategy that can help companies differentiate themselves from their competitors, attract and retain customers, and drive sales and revenue growth. By developing a comprehensive understanding of their customers' needs and preferences, setting prices that reflect the true value of their products or services, and communicating this value effectively to their target audience, companies can achieve long-term success and profitability. Value First, Then Price is a valuable resource that provides a quantitative methodology for value pricing and offers practical insights and best practices for sales and marketing managers who want to quantify the value of their products and services to industrial and B2B purchasers.

\n Weight: 518g\n
Dimension: 245 x 175 x 20 (mm)\n
ISBN-13: 9781032012124\n
Edition number: 2 New edition\n