The Five Cs of Value

BY RONALD J. BAKER

Editor's note: This is a Web-exclusive exhibit for "Pricing on Purpose: How to Implement Value Pricing in Your Firm."

For a firm to price on purpose, it must understand the Five Cs of Value:

1. Comprehend value to clients.

2. Create value for clients.

3. Communicate the value you create.

4. Convince clients they must pay for value.

5. Capture value with strategic pricing based on value, not costs and efforts.

These five components determine the wealth-producing capacity of any firm, and will drive internal profits in the long run. 

 

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When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.