Pricing:
Understanding and Capturing Customer Value
Price is the amount of money charged for a product or service. It is the sum of all the values that consumers give up in order to gain the benefits of having or using a product or service.
Price is the only element in the marketing mix that produces revenue; all other elements represent costs
Customer Value-Based Pricing
Understanding how much value consumers place on the benefits they receive from the product and setting a price that captures that value