Managing Customer Value
Charging what your product is worth is one of the most important factors in increasing sales. If you’re not pricing your products at a rate that reflects their value and what they can offer customers, you’re missing out on an excellent opportunity to increase sales. Accurate pricing of your products is especially important in today’s Read More …
The economy may fluctuate, but people’s lifestyles and preferences don’t change. People will often pay extra for what they want, regardless of the state of the economy. In tough economic times, mid-priced products and services – those of average value – are often lost. Low-priced, low-value alternatives and high-priced, high-value options tend to thrive. It’s Read More …
In the age of information, customer expectations are changing rapidly. Today’s customers demand a digital experience that is proactive, personalized, and convenient. This has created a new standard in customer experience management (CXM). Today’s consumers expect companies to have an eye for detail, access real-time information, and operate at high speed. They also look for Read More …
There’s a reason why high-end department stores charge more for their clothing and accessories than the average fast fashion shop or discount chain. The same goes for your branding. Suppose you want to increase the perceived value of your branding and have people see it as something worth paying attention to. In that case, you Read More …
What does value mean for customers? Value is the benefit the customer expects from your product or service. According to marketing theory, people purchase because they want to achieve a specific goal and feel that the product will help them achieve it. This can be as simple as keeping warm to something as complex as Read More …
Charging what your product is worth is one of the most important factors in increasing sales. If you’re not pricing your products at a rate that reflects their value and what they can offer customers, you’re missing out on an excellent opportunity to increase sales. Accurate pricing of your products is especially important in today’s Read More …