This entry explores distinct scales used to measure customers’ willingness to pay (WTP) in empirical research. The entry surveys the available methods, including open-ended questioning, dichotomous yes/no queries, multi-item scales for WTP measurement, and conjoint analysis. It highlights the...

This entry explores diverse approaches for measuring consumers’ willingness to pay (WTP), a crucial factor in pricing decisions for both new and existing products. The research delves into direct and indirect methods of WTP measurement, addressing hypothetical bias and exploring...

This entry investigates the concept of willingness to pay (WTP) for sustainability in both business-to-business (B2B) and business-to-consumer (B2C) contexts. It delves into the pivotal role of consumers’ WTP in shaping market dynamics, influencing companies to adopt sustainable practices....

This entry explores value-based selling through an inter-organizational lens, emphasizing the proactive, customer-centric approach necessary for selling innovative services. It delves into the integration of organizational buying and value-based selling processes, highlighting the significance...

This entry delves into value quantification, emphasizing total profit added (TPA) as an evolved metric transcending total cost of ownership (TCO). It outlines varied levels of quantification impact on pricing strategies, spanning success stories, online value calculators, and collaborative value...

This entry examines the pivotal role of value quantification in industrial markets, emphasizing the need for sellers to translate product benefits into quantified, customer-specific economic value. It delineates the components of customer economic value, distinguishing between quantitative and...

This entry explores the intricate concept of value proposition, elucidating its role as a facilitator of value creation and innovation in business. Through an exploration of customer value and the activities fostering value creation, it dissects the essence of value propositions and their impact...

This entry presents a comprehensive framework delineating eight key functions that contribute to mutual value between buyers and sellers. Covering aspects from pricing to innovation, this framework dissects elements such as payment options, volume implications, and safeguarding against...

Drawing from extensive research, this entry proposes a comprehensive framework for value-based pricing strategy development and implementation. It underscores the centrality of understanding: (1) the customer dimension, comprising customer value analysis (i.e. the analysis of customer maximum...

This entry discusses the intricacies of cross-cultural dynamics in business expansion. Historically, dominant economies propagated modernity and management methodologies in weaker markets, replicating their home market behaviour. However, the emergence of large markets such as China disrupts...