Value-based Pricing regarding on Customer Perceived Value in Contemporary Marketing (Introduction)

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Today, it is evident that the internet and digital technologies lead to massive changes in a business environment. At the same time, these techonologies offer excellent opportunities for businesses to reach an enormous number of customer worldwide.  As a result. customers can simply access information about products, businesses, and benefits that they can acquire by using such products at anywhere and anytime. Then, understanding consumer behavior, especially ASEAN consumer behavior, which is often driven by various marketing factors, is a critical role for marketers to survive a business in the long term. Nowadays, it is well-accepted  that the customer determines the product’s characteristics based on their needs.. A business that can design and plan actions to best meet the needs of its customers will be successful in business operations. Customers seek the best products or services for themselves in terms of perceived quality. Therefore, businesses have to adapt themselves in order to meet customer needs and requirement in terms of productivity, quality, after-sales service, and production costs. However, a customer’s purchasing decision depends not only on the quality of the products that meets customers’ needs but also on other factors that can influence the outcomes of purchasing decisions especially the price of the products. Pricing the offering products and services play an important role in the customers eyes when making the purchasing decision (Nagle, Hogan and Zale, 2014). Therefore, businesses need to understand what customers expect to receive when they have to pay the cost and then set a price that reflects the offering value of their products. Professional marketers always apply several effective pricing strategies to generate profit for the organization by converting the visitor to the new customer and turn new customers into regular purchasers,transform  regular purchases to become loyal customers.Finally, try it best to retain the loyal customers and convert them to become the advocate who willing to share their positive experience from using the product with their families, their friends, and other people whenever they have a chance (Boone & Kurtz, 2018).