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Wirtschafts Woche: When customers determine the price for a product

The ‘pay what you want’ compensation model has been used for many years, especially in sparsely populated areas. Owners of small shops often do not have the financial means to hire a cashier and can not even always be on site. You then look for other alternatives and ask customers to pay what they think the product or service is worth.

Dr Vincent Mak, University Lecturer in Marketing at Cambridge Judge Business School, on his recent research into pricing. [Article written in German]

Read the full article [wiwo.de]