Pricing is one of the most important decisions for organizations and individuals. We may pay 20 dollars for a glass of wine in a restaurant while the same bottle costs the same at a grocery store. The liquid is identical. The value is not. We are paying for context, service, timing, and experience. Price is not a static number. It is a quantified expression of perceived value at a particular place and time.
Read MoreJust think for a moment about how much online searching you do. Need to find a nearby Thai restaurant? Just type your query into the search engine and presto: You receive page after page of results listing eateries in your area offering Pad Thai. Need to know the forecast in Austin? Again, punch in your query and you will receive no shortage of pages offering three-day forecasts, five-days forecasts, even year-round averages.
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