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Value-Based Pricing: Definition, Strategies & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which is the best explanation of value-based pricing?

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1. How do you determine the product attributes customers value the most?

2. What's a primary method used to communicate the value of your product in order to obtain sales?

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About This Quiz & Worksheet

Using value-based pricing is a method of establishing a price for a product that the worksheet and quiz for this lesson will help you review. Specific information tested include an explanation of terms and examples of this way of pricing.

Quiz & Worksheet Goals

These evaluations will test you on:

  • An explanation of value-based pricing
  • Product attributes
  • Methods of communicating the value of products
  • Beta testing
  • Examples of value-based pricing

Skills Practiced

The quiz and worksheet will measure your skills of:

  • Reading comprehension - ensure that you draw the most important information from the related marketing lesson
  • Information recall - access the knowledge you've gained regarding beta testing
  • Critical thinking - apply relevant concepts to examine information about value in a different light
  • Knowledge application - use your knowledge to answer questions about product attributes

Additional Learning

To be sure that you have fully comprehended the material, review the associated lesson titled Value-Based Pricing: Definition, Strategies & Example. This lesson will cover the following objectives:

  • Identify customer-valued product attributes
  • Understand how a company can communicate value to consumers
  • Discover examples of value-based pricing
  • Understand the concept of beta testing
  • Define value-based pricing
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