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What is the concept of value based pricing. Why competitor\u2019s price is not sufficient for determining the prices a firm can extract ?

How does business strategy impact pricing?

How can a firm influence a customer\u2019s perception of value ? What is the role of branding in influencing value ?

In reacting to competitor\u2019s pricing actions or the entrance of a new competitor, how do executives use the  Competitive Price Reaction Matrix and identify the reaction most likely to yield a better outcome?

Tim J Smith, answers the above questions, as he makes a case for Value Based Pricing. Tim J Smith  is the Founder & CEO of Wiglaf Pricing. He is a pricing strategy consultant, chief editor of the Wiglaf Journal and author of two books -Pricing Strategy, Pricing Done Right. 

Please connect with Tim on Linkedin - https://www.linkedin.com/in/drwiglaf/

His company blog - https://wiglafjournal.com/

His book - https://www.amazon.in/Pricing-Done-Right-Successful-Profitable/dp/111918319

Jagged with Jasravee is facilitated by Jasravee Kaur Chandra, Director- Brand Building, Research & Innovation at Master Sun, Consulting Brand of Adiva L Pvt. Ltd. Jasravee has over 20 years experience as a Strategic Brand Builder,Communications Leader and Entrepreneur. 

Please connect with Jasravee on Linkedin at  https://www.linkedin.com/in/jasravee/

00:00 Introduction to Tim

01:09 Principles of Value Based Pricing

07:19 Alignment of Business Strategy & Pricing

12:38 Role of Branding in Pricing

15:00 Psychological Influences that Impact Perception of Value

17:56  Price Competition Matrix

24:24 Tim's Talent Show 

28:03 The Rapid Fire - Personally Speaking with Tim

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Jagged with Jasravee, is an initiative of Master Sun, the Consulting Brand of Adiva Lifestyle  Pvt Ltd. Please visit our blog at http://www.mastersun.in/

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