What is value management? (And why you should care). A document from back in November 2012 that sets out the basic approach to value management, and how it integrates innovation, marketing, sales and of course pricing. A new version of this document is in development.
At Ibbaka, we begin our pricing work by understanding the value of your product or service from the perspective of your customer. Our approach is to research, validate and quantify the economic (monetary) and emotional value your offer creates for the market with customers and non-customers. By understanding your differentiation relative to the customer’s next best competitive alternative, we can design a pricing model built that communicates and even amplifies your differentiation.
Pricing is often seen as a branch of the dismal science, a coldly analytical attempt to extract the maximum price from buyers. Good pricing practice is completely different from this stereotype. It factors in empathy and emotion and is deeply concerned about the value delivered to the customer (V2C).
Ibbaka is here to help you drive growth by getting focussing in on the market segments where you create the most value. We help you design pricing that reinforces your value and differentiation. The results is you can capture more value and keep the lifetime value of the customer (LTV) and value to the customer V2C) in balance.