Price: Understanding and Capturing Customer Value

must find the values that buyers provide for 

different competitive offerings. However, it 

is often difficult to gauge the customer 

value that will be associated with the 

product. For example, calculating the cost 

of spices in a dish at a luxury restaurant is 

relatively easy. But attributing values to 

other satisfactions such as taste, atmosphere, 

relaxation, conversation, and 

status/prestige is very difficult. However, 

consumers will use these values for