166. Utpal Dholakia. How to Price Effectively.
Utpal Dholakia
June 3, 2021
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“The value-pricing framework is a structured, versatile, and comprehensive method for making good pricing decisions and executing them.”
– Utpal Dholakia
What is a good pricing decision?
What factors should be considered and what methods should be used?
In today’s podcast Dr. Utpal Dholakia takes listeners through the value-pricing framework that he developed over the past decade.
Topics include:
The pillars that make up the value-pricing framework.
Why costs aren’t the only thing that should be considered when developing a price.
How to define customer value.
How the price of proximate products influences consumer decision-making.
How the value proposition differs from customer value.
The measures that should be used to evaluate pricing success.
Dr. Utpal Dholakia holds the George R. Brown Chair of Marketing at Rice University. He has taught marketing and pricing to MBA students for over two decades and conducts research to advance our understanding of marketing strategy & consumer behavior. He has published over 50 articles in the top marketing and management academic journals, written two books on how to price products and services. His research has been cited over 20,000 times. Utpal’s popular blog on Psychology Today is called The Science Behind Behavior.
Utpal has extensive consulting and expert witness experience in the financial services, technology, healthcare, and energy industries. His consulting specialty is conducting survey-based research for investment banking clients looking for specific insights into consumer and market trends, and to support intellectual property, marketing, and consumer-issue lawsuits. Utpal has also consulted on design and evaluation of pricing strategies, developing and measuring social media strategies, quantitative analyses for managing customer information and developing positive ROI marketing campaigns, CRM adoption, and branding issues.
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Dr. Utpal Dholakia