Distinguish between Value-Based Pricing and Cost-Based Pricing

Pricing is the key aspect that determines the competitive ability of a business given that clients compare the costs of products among providers before making a decision. As such, managers should develop proper pricing strategies that promote the profitability of…

Differentiation as an ability to distinguish your product from to others

Differentiation in a marketing setting is the ability to distinguish a product from to others or make it attractive to a specific target market. Moreover, it is expressed as a promotional method employed by a business to establish a strong…