Home » Customer Value in Pricing Strategy » Your company produces computers and other digital devices, and it is branching out to televisions now too. You are on the pricing team and need to find a value-based price. How could you best define your target segment?

Your company produces computers and other digital devices, and it is branching out to televisions now too. You are on the pricing team and need to find a value-based price. How could you best define your target segment?

Identify your mass segment and avoid investing time in developing individual customer profiles.

Focus solely on your television specifications and potential consumers.

Identify and find the sum of all of the customer value drivers for the television.

Visit stores, interview customers as they make purchase decisions, and conduct quantitative surveys to understand both consumers and businesses.

Understanding both consumer and business customers is the most important place to start when defining the target segment. Companies should develop customer profiles by visiting stores, talking to customers as they make purchase decisions, doing competitive mapping, conducting customer interviews, or administering quantitative surveys.