Costs and profits are two dominant factors having a direct impact on selling price. Several cost reduction strategies are usually applied to minimize the costs. However, to maximize profit, a…
Benefits that create value for customers can be divided into two categories, e.g., core benefits and add-on benefits. The core benefit is the fundamental need that the customer satisfies when…
Value-based pricing is the method of setting a price by which a company calculates and tries to earn the differentiated worth of its product for a particular customer segment when…