New at CVI!
Webcast on Measuring Product Performance for Value-Based Pricing and Product Positioning
Value-based pricing helps companies avoid overpricing or underpricing their products. You determine an appropriate price by objectively measuring the performance of your product or service relative to your competitors. If find that you have a measurable performance advantage, you could charge a price premium, thereby avoiding leaving money on the table and unnecessarily forcing your competitors to cut their prices. If you have a performance disadvantage, you need to set your prices realistically to avoid losing customers. Your product offer will be seen as attractive if it offers competitive performance for the price you elect to set.
The free webcast on June 26 will demonstrate the process of measuring performance and relating the measures to prices. The process may be used to position new products or reposition existing products. Companies typically have a variety of comparative measures for different aspects of product and service performance. Some may be from engineering specs, some from field measurements, some from customer surveys, some from customer interviews, and some based on management judgment. The webcast will show how you can combine measures on different measurement scales into an overall measure of performance that will guide you in positioning products and setting prices relative to the competition.
Webcast date: Thursday,June 26, 2008
Time: 11:00 AM Eastern Time (USA)
For more information and to register for this free session, click below:
http://cval.com/WebinarSignup.htm
To discuss applying these techniques and tools with your new product teams contact:
Now available : Release 7 of CVI’s Marketing War Room Software
|
The Marketing War Room helps you develop and implement marketing strategies that are based on increasing the value of your offering to your customers. Release 7 introduces powerful new techniques that help you improve your success rate for product introduction. You can evaluate alernative product concepts using the new "Anchoring Worksheet" feature. This lets you assemble a table of comparative specifications for both the products now on the market and for your own concepts. The Marketing War Room combines these technical measurements into an overall index of performance, and arrays your new product concepts on a value map. This proven marketing-strategy tool shows the price-performance tradeoffs as they will be be seen by your customers when your product is available. This rigorous analysis helps guarantee that the product concept you choose, in combination with the appropriate price, will be a winner in the market.
What else can your marketing team do with the new Marketing War Room?
- Understand the true strengths and weaknesses of your product offer, and identify opportunities that can make your product more competitive.
- Look at your product head-to-head against each of your toughest competitors to think through your selling strategy
- Set your prices based on what your product is truly worth
- Hone your marketing message
- Align your management team around a plan to serve customers better.
Release 7 of the Marketing War Room has new features that add to the ease of use and power of the software, helping you jumpstart your programs for value-based pricing and customer-value improvement. Download brochure
|
Value-Based Pricing & Marketing
The idea behind value-based pricing is compelling: make sure that your prices are in line with the benefits you deliver to customers. It's the only safe way to steer a course between the shoals of overpricing (alienating customers) and the rocks of underpricing (and leaving money on the table). But value-based pricing can be done only if you can calculate what your product, with its unique pattern of strengths and weaknesses, is really worth to the customer. The need for such calculations has spawned a number of different approaches to figuring out a product's worth. Among these approaches are attribute importance-performance analysis, economic value analysis, and conjoint analysis.
CVI's value-based-pricing methodology, described in our new (November 2006) white paper Value-Based Marketing and Pricing, synthesizes these approaches. it allows you to draw on the best of all of the tools depending on what's most appropriate and what data you have readily available.