Celebrating 10 Years of Pricing with Confidence (video 10 of 11)
Mayuresh Saravanakumar explains Rule Nine: Take Simple Steps to Move from Cost-Plus to Value-Based Pricing
The goal with value-based pricing is to take an outside-in view starting with the customer and their market. I hope you've learned through this series that value-based pricing is bigger than "just pricing." This outside-in view will help you craft your value strategies in the products you create (Rule Six) , the markets you target (Rule Seven), the messages you deliver (Rule Two), the way you sell (Rule Eight), and how much you get paid (Rule Three).
Value-Based pricing is an end goal and not all companies can or should implement it. But those companies that do often see a return higher than those who don't. It also takes time to get there. Over the long-run, you will build that confidence in the value you create for customers and the prices you charge.