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| Author: | Kucher, E. Hilleke, K. |
| Title: | Value pricing through conjoint measurement: a practical approach |
| Journal: | European Management Journal
1993 : SEP, VOL. 11:3, p. 283-290 |
| Index terms: | VALUE-IN-USE PRICING MEASUREMENT MANAGEMENT |
| Language: | eng |
| Abstract: | Pricing based on marginal costs misses a critical element in maximizing profits - the relative perceived value of the product which is being priced. In practice, managers use crude proxies. A more sophisticated and valid pricing method, which uses perceived relative value of products is Conjoint Measurement. It is explained here by the authors, and is a very effective tool when determining the value of a product and deriving price response functions and profit optimal prices. The authors chart three key elements in pricing studies using Conjoint Measurement. |
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