Value Based Pricing: Difference between revisions
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'''Value Based Pricing''' (VBP), also known as Value Optimized Pricing (VOP), is the practice of setting the price of a product or service based on its estimated value to a specific consumer. This practice effectively gauges how much the consumer values what they are paying for before resorting to a competitor or creating their own solution. | '''Value Based Pricing''' (VBP), also known as Value Optimized Pricing (VOP), or Surge Pricing, is the practice of setting the price of a product or service based on its estimated value to a specific consumer or at a specific time. This practice effectively gauges how much the consumer values what they are paying for before resorting to a competitor or creating their own solution. | ||
==How it works== | ==How it works== | ||