Value-Based Pricing Strategy

The video tutorial discusses the key aspects of product strategy, including design, promotion, distribution, and pricing. It emphasizes the importance of a well-thought-out pricing strategy, particularly value-based pricing, which considers the consumer's perspective to set a fair price. The tutorial explains how the marketing mix influences pricing and highlights the goal of maximizing customer value while ensuring profitability.

Why is it important to maximize customer value while still making a profit?

What does it mean to take the consumer's perspective in pricing?