Earning customer loyalty with a right pricing strategy

With education and increased standard of living, customers (particularly those in developed nations) are becoming more shrewd as compared to a decade or two ago; they know why certain products are priced a certain way and they will seek other means for a cheaper buy if a brand doesn’t offer them at a value that they deem worthy; they know the reasons behind a certain activity or campaign undertaken by a brand.

Pricing is the language that buyers and sellers use to discover share value opportunities

There are 5 principles that can help a brand create share value with customers and win their loyalty.

  1. Focus on relationships
  2. Be proactive
  3. Be flexible
  4. Be transparent
  5. Understand market standards


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