Value-based pricing is designed to help business owners maximize their prices and profits.
According to a press release, the first and key step to value-based pricing is discovering what customers will pay more for.
It takes research to figure this out. Business owners need to examine customers’ entire experience with the product or service, from awareness to disposition, and discover how they use it. There’s no shortcut, but there are several tools to help.
At the next Business Growth Mentor and Analysis Program Alliance forum, attendees will learn about tools that will help determine how to increase value and charge more.
Presenter Joe Cote, professor of marketing at Washington State University Vancouver, will lead a work session to enable participants to apply these tools to a company’s offerings.
The forum will be held from 8:30 to 10 a.m. Wednesday, Oct. 28, in Burgerville’s Center for Responsible Community Leadership, 1602 W. Main St., in downtown Vancouver.
The Business Growth MAP Alliance brings together small businesses and entrepreneurs to learn from each other, industry experts and WSU Vancouver faculty.
The meeting is open to the public.
Register online at business.vancouver.wsu.edu/bgmap/ and click the link under “Upcoming events.” The fee is $10/person in advance; $15 at the door (free for students with WSU identification).