Value Based Pricing

Have you ever wondered why the selling price of luxury product is always significantly higher than the cost of production?


The answer is hidden in the value-based pricing strategy, in which a company sets the price of a product based on how valuable the product can make a user feel.
The value-based pricing strategy is entirely dependent on the user's feelings and their social status.
If the product makes the user feel richer and more luxurious, it may cost you more than double the cost of production.


Tell us about some companies that use value-based pricing strategies in the comments section and follow us for more useful information.
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