Author: Michael Stanisz
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Find the right price with the pricing matrix
The Pricing Strategy Matrix offers four core pricing options — skimming, penetration, economy, and premium — each balancing price and quality differently. This article breaks down the advantages and drawbacks of each to help you find the right starting point for your pricing strategy.
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Willingness To Pay According To Beer
Willingness to Pay (WTP) and price elasticity are related but not the same thing. Using beer at a baseball game as an example, this article breaks down how WTP works, how it connects to demand, and how businesses can use it to set smarter prices and maximize revenue.