value based pricing
Definition:
Basing prices on the customers perception of value rather than on cost plus some kind of mark-up. "Charging what the market will bear".
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].