Understand in Under 5: Willingness to Pay

This short video explains how marketing managers figure out how to price a new product or a new feature on a product or service. The concept is based on value-based pricing and it requires measuring customers' willingness to pay. Please note, to grasp the concepts in the video, you'll need to understand Conjoint Analysis. For a quick ramp-up, watch the short video on Conjoint Analysis here: Conjoint Analysis Explained (Understa...