HOW TO PRICE A NEW PRODUCT WITH VALUE WALKS

Summary from the TLDR Marketing newsletter

Companies often leave money on the table by setting prices solely based on costs. An alternative to that is to use Value-Based pricing, where the price is set by the value to the end customer. 'Value Walks' is a method to define the price based on how much customers value your product. Starting from the price of the next best alternative (NBA), you can add or remove a certain dollar amount depending if your features are better or worse than the NBA.