BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Value-based pricing is a strategy of setting prices primarily based on a consumer’s perceived value of a product or service. Value-based pricing is customer-focused, meaning companies base their pricing on how much the customer believes a product is worth.

Detailed explanation-2: -Meaning of Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods. Pricing method is exercised to adjust the cost of the producer’s offerings suitable to both the manufacturer and the customer.

Detailed explanation-3: -Value-based pricing, also known as value-added pricing or value pricing, is a method of setting prices based on your customers and how they perceive the value of your product. The more your audience thinks your product or service is worth, the more you can charge.

Detailed explanation-4: -Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business’s marketing plan.

Detailed explanation-5: -What Are The ‘4 Pricing Methods’? There are 4 Pricing Methods that can help you put a price on what you sell: replacement cost, market comparison, discounted cash flow/net present value, and value comparison.