While so many companies see their products and services as unique, more often than not, prospects view them as comparable. As such, price and demand become functions of the market, and growth potential is limited. Acquiring new customers becomes a costly and time-consuming process, replete with objections and rejections.
Differentiation is the process of making the company, products or services distinct and more valuable than the alternatives, in order to significantly change the dynamics of the buyer's decision making process.
CustomerSegmentation further separates prospects into groups based on how they ascribe value to different product and service attributes, in order to provide alternatives that resonate precisely with their needs.
A sophisticated Pricing Strategy, then, allows the company to convert more prospects into customers, maximizing growth without sacrificing on profitability.