Business

What Is Value-Based Pricing? Pros and Cons of Value Pricing

Written by the MasterClass staff

Last updated: Jun 21, 2022 • 2 min read

Pricing strategies can focus on costs of goods, what competitors charge, or what customers are willing to pay. If you choose the latter for your business, you will be using a value-based pricing strategy, a model that prioritizes the perceived value of the product or service in the eyes of consumers.