Should Retailers Focus On Price Or Value? (Paul Hunt Video)

While we're on the subject of pricing strategy, here's a video by Paul Hunt, President of Pricing Solutions.*  In this video, titled, "Customers want the best value, not the best price," Paul asks why the discussion always seems to be "price-price-price" when it should be "value-value-value"? Paul gives the example of two green apples that appear to be the same, then goes into a discussion of what goes into customer's decision-making when there's a choice and things only seem equal:

 Paul's messages about value vs. price:

  •  Look more closely.
  •  It's all about differentiation that's meaningful to the customer.
  •  It's differentiation that they will pay more for something that they value.

*Pricing Solutions is an international pricing strategy consultancy dedicated to helping clients achieve World Class Pricing competency. Paul publishes a weekly pricing column in the Financial Post Executive. He also writes for the Pricing Solutions Club and lectures widely on pricing.

What are your thoughts on pricing vs. value?  

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Gilon Miller, CMO

About Author

Gilon is a seasoned marketing, sales and business development executive with over 15 years of experience in the software and Internet business. He is the Founder and CEO of GuruShots. Previously, Gilon was the CMO of Upstream Commerce, VP of Marketing at iMDsoft and Director of Global Marketing at SAP. He earned an MBA at the MIT Sloan School of Management and a BS in Electrical Engineering from Tufts University.
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