ENTREPRENEURSHIP

Detailed explanation-1: -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-2: -What are the 4 major pricing strategies? Value-based, competition-based, cost-plus, and dynamic pricing are all models that are used frequently, depending on the industry and business model in question.

Detailed explanation-3: -Demand-based pricing, also known as customer-based pricing, is any pricing method that uses consumer demand-based on perceived value-as the central element. These include: price skimming, price discrimination, psychological pricing, bundle pricing, penetration pricing, and value-based pricing.