Products with market leading features don’t have directly comparable products and must build a reference price point by accounting for any missing or additional features. In this case, the positive customer value driver of the new feature and the production savings help create a constructive next best alternative price.
Your company sells 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. You’ve identified the next best alternative, which has comparable features except your television won’t come with a remote control.
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