How to Implement Key Value Item Pricing Strategies in Retail
With increasing competition in retail, carving out a niche in the market can be challenging. The Key Value Item pricing strategy pricing strategy can be particularly effective in helping retailers decide how best to sell products and achieve their goals. In this article, we explore the basics of Key Value Item pricing, its benefits, implementation, and how PriceIntelGuru can assist retailers in adopting this strategy. Understanding Key Value Item Pricing Strategy Key Value Item Pricing Defined The Key Value Item pricing strategy focuses on identifying essential products or services that hold significant value perception among customers. These items serve as anchor points for pricing decisions. By strategically determining Key Value Items, retailers can maintain consistent pricing across all products while ensuring alignment with customer values. Purpose and Objectives of Key Value Item Pricing The primary goal of Key Value Item pricing is to attract traffic, increase basket size, an...