The Elements of Value

Measuring—and delivering— what consumers really want

BY ERIC ALMQUIST, JOHN SENIOR, AND NICOLAS BLOCH

Eric Almquist is a partner with Bain & Company’s Customer Strategy & Marketing practice and the global head of consumer insights for Bain. John Senior is a partner with the Customer Strategy & Marketing practice. Nicolas Bloch is a coleader of Bain’s Strategy practice. When customers evaluate a product or service, they weigh its perceived value against the asking price. Marketers have generally focused much of their time and energy on managing the price side of that equation, since raising prices can immediately boost profits. But that’s the easy part: Pricing usually consists of managing a relatively small set of numbers, and pricing analytics and tactics are highly evolved. What consumers truly value, however, can be difficult to pin down and psychologically complicated. How can leadership teams actively manage value or devise ways…

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Harvard Business Review (Digital) - 1 Issue, September 2016

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