Are you applying best practices in your pricing?

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Self-Assessment

Consumer surplus

What is “fair” pricing and a “reasonable” consumer surplus?

What is “fair” pricing and a “reasonable” consumer surplus?

Even if you have a highly differentiated, value-added offer and are able to charge a premium without much customer pushback, your pricing should not aim to recoup the full value you create for your customers. Your price should leave a consumer surplus - that is, the customer should feel they are getting more value than the amount spent, as value perception is key to the sustainability of any good pricing.

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