Why the Company’s Core Values Matter & Should Influence Its Pricing Strategy
Nothing is more authentic than a pricing strategy that is harmonious with the company's core values. This requires effort, gumption, & many hard choices.
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Most pricing decision makers tend to focus on one or more of the three basic pricing inputs – costs, customer value, and reference prices. Some go a step further and consider a fourth factor, the value proposition behind the company’s marketing strategy. As they should. There’s no question each of the factors is crucial to making effective pricing decisions. They must be considered.
However, there’s a fifth equally significant input, and I would even argue it’s the most significant one of all, that relatively few companies bring to their discussions of pricing strategy in any meaningful way. This factor is the company’s core values.
The most effective pricing strategies tend to be harmonious with the company’s core values and business philosophy. They consider the core values that the company has adopted and formulate pricing objectives, structures,
This is a preview of the full post that is available to all subscribers, free and paid, of The Pricing Conundrum. To read the full post, please subscribe and support my work.