What is Good Value Pricing in Marketing?

Learn Good Value Pricing definition in marketing with explanation to study “What is Good Value Pricing”. Study good value pricing explanation with marketing terms to review marketing course for online MBA programs.

Good Value Pricing Definition

  • Offering the right combination of quality and good service at a fair price.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Good Value Pricing Explanation

The center of the idea driving great worth evaluating is the worth condition, which expresses that worth is made when a shopper can purchase something that is worth more to them than the value they paid. The measure of significant worth made is the contrast between what they would have paid and what they paid. Incentive for an organization is gainfulness. In specialized terms, "great worth estimating" alludes to any evaluating technique that attempts to part esteem creation to some degree equitably between a firm and its clients. This is rather than raising costs as high as purchasers will pay or pushing them as low as the organization can bear. In everyday exchange between advertisers, "great worth valuing" ordinarily alludes to an item and estimating mix that offers vigorous highlights, yet at a congenial cost. These items are ordinarily in a center ground between low-valued markdown items and top of the line extravagance things.

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