The best way to price any product

[AZNGoSu]

A whole college level course explained in 30 seconds

[kierand]

HBR video on this goes into more detail.

[Malika_Deci]

I was today years old because the I thought they were both factors and being tona medium. I didn't know they were two separate things.

1) Price and cost = incentive to sell (cost plus )
2) Price and value = incentive to buy (value based pricings )

I'm surprised it's works for
good: tangible = item ( physical item )
service: act ( cleaning, taxi driver, etc )

Isn't a product a good?

[Okeh_Emmanuel]

Pricing is always fixed with a mix of both cost and value Pricing model

[nelidamata]

Wow!!! Amazing man.
You had discovered the hot water.

[dachimazanashvili]

Bro talked about supply and demand and made it look like it was something else

[prabuddhbaiid]

Way to eliminate a business idea

Let v(b) be price coming out of value based pricing. Let c(b) the price coming out of cost based pricing.

A business exists iff v(b) > c(b)

Eliminates a lot of SMB products like Dukaan/Khatabook and others who sold products at prices which completely overlook the value perceived by their customers