Value pricing is a strategy in which a company offers the right combination of high quality and good service at an acceptable (fair) price. This approach focuses on increasing the customer’s perceived value, not simply reducing prices.
Value pricing often involves reworking the product offering to offer more of the same quality for less money (e.g., discounters) or the same quality for the same price but with added features. This strategy is especially effective in economic times when consumers are highly sensitive to price/quality.
