Question

Name and describe the two types of value-based pricing and the methods.

Answer 1

Hello mate,

methodsAnswer:There are two types of value-based pricing:1. good-value pricingand 2. value-addedpricing. 1.Good-value pricingstrategiesoffer just the right combination of quality and good serviceat a fair price. In many cases, this has involved introducing less-expensive versions of established, brand name products. In other cases, good-value pricing has involved redesigning existing brands to offer more quality for a given price or the same quality for less. An important type of good-value pricing at the retail level is everyday low pricing(EDLP). EDLP involves charging a constant, everyday low price with few or no temporary price discounts. 2.To increase their pricing power, many companies adopt value-added pricingstrategies. Rather than cutting prices to match competitors, they attach value-added features and services to differentiate their offers and thus support higher prices.

Thanks

Answer 2

The two methods of pricing are the cost based pricing and the value based pricing.

Explanation:

In the cost based pricing method, the price is allotted for an object depending upon its production and material cost.

While in the case of the value based pricing, the amount of price the customers are willing to pay for the product are charged as the price which depends on the rate at which each customer is valuing the product.

TO KNOW MORE:

What is value based pricing. How is it different from cost based and competition based pricing?

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