Companies like Walmart that assert a "more for less" strategy are using value-based pricing.
What is value-based pricing?
- Value-based pricing is a method of setting prices that is mostly based on how much a consumer thinks a product or service is worth.
- Value pricing is which means that businesses set their prices in accordance with what consumers think a product is worth.
- Value-based pricing differs from "cost-plus" pricing, which computes prices after taking manufacturing costs into account.
- Companies that provide distinctive or highly desirable products or services are better positioned to benefit from the value pricing model than those that sell primarily commoditized goods.
- The value-based pricing theory primarily applies in marketplaces where owning a product improves a customer's self-image or enables unmatched life experiences.
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Answer:
Help students avoid factors that hinder problem solving
Explanation:
By listing the many ways to use the large rubber band, students are able to grasp and understand the rubber band fully. In this way there many options that a person would consider when trying to get creative with problem solving that may involve the rubber. Since the student very different facets to the rubber, he/she is able to devise a loophole that may create a way to solve a problem using the rubber band.
