THE VALUE & PRICING BLOG
The latest stories, blog articles, and pricing news from the Ibbaka team
Changing your pricing metric can change willingness to pay (WTP)
Willingness to pay (WTP) is one of the most frequently abused concepts in pricing. Many people try to use it as a proxy for value. It is not. Other companies claim they can estimate willingness to pay through surveys. This is too simplistic. Why?
Willingness to pay is determined by framing and by the value delivered to the customer relative to the alternative. To measure willingness to pay without taking these into account is wasting an opportunity to really understand your customers and position the value you are providing.
Is your pricing fair? And why you should care.
Pricing transparency and fair pricing are becoming hot issues. Buyers want to believe their pricing is fair and reflects the value they receive. What does it mean for pricing to be fair and how do you communicate fairness?
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