How much your customers are willing to pay for your product? Think about your product value in the eyes of the customer, not the market price only.
What's your buget in order to reach and serve your customer?
This includes not only monetary costs, but also the time and effort required to reach them.
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The 4Ps marketing mix are not enough anymore! In this era, where many products are present in the market, it's difficult to attract customer with a product centric approach alone. Now, brands need to focus more on the Customer Centric Approch: The 4C's!
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Similar ideas to The second C: "Cost
With value being in the eyes (and experience) of the consumer, the price they are asked to pay must be (much) lower. The entrepreneur’s job is to figure out at what price their product is attractive, and then choose a cost structure that allows for profit. In other words, the price is a
The Auction business model is based on the price of a product is not determined by the vendor alone, but buyers actively influence the final price of the goods. Finding a price starts with a potential buyer bidding a certain amount based on his/her willingness to pay. Wh...
Level 1: Pay As You Grow
This model increased...
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