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The Five Cs of Value

BY RONALD J. BAKER

Please note: This item is from our archives and was published in 2009. It is provided for historical reference. The content may be out of date and links may no longer function.

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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.

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