Smarter Pricing: How to capture more value in your market

Differentiation is the lifeblood – there are three types

Differentiation from competitors creates the opportunity for companies to charge higher prices than rivals. If water, concrete and plastic can be differentiated, you can believe in scope for every product to be made different in some dimension.

Examples of dimensions of value include:

• specific product attributes which increase effectiveness in use

• dependability, continuity of supply

• certainty

• convenience and accessibility

• tailored information

• status

• emotional relevance

• personalization

• rewards.

Consider which of these could make a product or service somehow unique. Systematically seek ways to make your product or service different from the rest. There is a three-way structure for this method.