What's the right price?
6 paths of value creation that can lead toward higher pricing
By Koen Tackx
Professor of Marketing
20 December 2019
Pricing matters. It’s one of the most critical drivers of profit in any company. Yet it is one of the least understood. And as a business skill, the capacity to set prices strategically is also one of the most undervalued. Too often, business managers rely on gut feeling, on assumptions, past experience, experiments or simple cost-plus models to set prices.
As a business skill the capacity to set prices strategically is one of the most undervalued. In this white paper we discuss the 6 pathways to creating benefits for customers while increasing prices:
- Practical
- Economic
- Peace of mind
- Personalised
- Social
- Societal