BUILD PRICING AROUND THE TANGIBLE VALUE CREATED AROUND A PRODUCT OR SERVICE. This is the third of five articles in THE REPORT this week on the subject of pricing – considering strategies for maximising margins in the short, medium and long terms. No consumer spends his or her hard earned cash without a perception of […]

BUILD PRICING AROUND THE TANGIBLE VALUE CREATED AROUND A PRODUCT OR SERVICE. This is the third of five articles in THE REPORT this week on the subject of pricing – considering strategies for maximising margins in the short, medium and long terms. No consumer spends his or her hard earned cash without a perception of the value being purchased and the value being purchased inevitable impacts on the price consumers are willing to pay. Maximising the price that the market will pay for a product or service is the primary role of the branding process. Indeed the primary function of branding is to maximise perceived value and as a result the amount the target market will pay. I would argue that communication is about driving enquiry and branding is about driving the perception of value. A brand is in essence a summary of the target markets expectations and those expectations…