Value based pricing is a method of pricing a product based on perceived value. This method sets aside the issue of production and distribution costs and focuses more on what the buyer is willing to pay. This method of pricing is the most popular way to bring more profits to a company's table.

Value based pricing is a method of pricing a product based on perceived value. This method sets aside the issue of production and distribution costs and focuses more on what the buyer is willing to pay. This method of pricing is the most popular way to bring more profits to a company's table.

Prices are typically determined based on factors such as production costs, competition pricing, market demand, and the perceived value of the product or service. Companies may also consider pricing strategies like cost-plus pricing, value-based pricing, or competitive pricing to set prices that are attractive to customers while still generating profits. Regularly reviewing and adjusting prices based on changes in the market or customer preferences is also important for maintaining competitiveness.

Sony utilizes a premium pricing strategy for its products. This means that its products are priced higher than competitors' offerings, reflecting the high quality, technology, and brand value associated with Sony. Sony's pricing strategy focuses on capturing value from customers who are willing to pay a premium for the perceived benefits of its products.

value-based pricing approach