Now, we come to the fourth and the final pillar of value based pricing pricing psychology. Now, it is widely believed that it is not the price that drives a customer's behavior, but it is a perception of the price that drives the customer's behavior. Now, this perception is a very strong thing like in India, we normally believe that if the product is made in China, then its price should be less because it will be of low quality. Similarly, we also believe that if the product is made in Germany, the quality should be really high and the price can be much bigger. One of the challenges we always face when we are providing resources for consultancy or for training purposes is that the companies expect that since the resources coming from India, the consultant charge consultancy charge should be less and the price what they are ready to pay is normally very low.

However, now when it is coming to a topic like let's say deep learning now, the consultant Who is going to be engaged has to have deep knowledge and has to be almost at par with what is available in any other country. However, when we try to sell such consultant services in any place, whether it is in Dubai, whether it is in Saudi Arabia or whether it is in Thailand, we always find that the customer expects a much lower price. Now, this consultants, they will be rendering maybe the similar kind of service and they also have expectation that they maintain a minimum lifestyle. However, we have to fight these kind of perceptions to be able to stay alive in the market. One of the techniques we have developed in our organization is to try and show some real value or some real distinguishes to the customer at a very early stage when we start engaging with them.

Sometimes we are lucky. In one such case we were being talking to Zen Telekom. They actually came to us asking us whether we could help them in formulating their Three are Technology Roadmap. Now, this was a very, very difficult task and it required a lot of skill. And it required a lot of convincing to be done across various levels of the organization before it could be accepted. However, Zen was expecting that we caught a low price for this.

Now, what we did was we did not get all the information regarding what the Technology Roadmap we will have to build the basic knowledge based on which we will have to proceed with our work. But before we started engaging with the customer in terms of pricing, etc, week did, we took the ITAR map and we analyzed the ITAR map for found five levels and made a salute suggestion to the customer saying that maybe if we analyze your Technology Roadmap on the Tom basis, moving down to a granular granularity of five levels It will add enormous value to a very long term plan that you may try to formulate. Now looking at this output that we created for them, even before we started engaging in terms of contracting, etc, they were quite convinced that we could do a good job for them. And they gave us a very good price for the work which we were conducted in terms of delivering the three year Technology Roadmap, okay, it was to our fortune that we our work was appreciated, and we also got a good price for it.

Here's what Kotler and Kotler have to say about perception. Kotler and Kotler state that perception depends not only on the physical stimuli, but also on the stimulus in relation to the surroundings and on conditions within the individual. Further state that person's perceptions can vary widely among individuals as exposed to the same reality. Now we faced a situation where we had supplied our system to one customer in India. Now the customer was very happy now Also this customer, he was himself engaged in lot of trainings etc, to enhance his skills and knowledge in his domain. Now, he was not computers was not his domain, he was in a in his own business.

Now, all of a sudden, this customer brought in a partner in his business, who took who took some of the shares in the company. Now, when this new partner came in, we approached him with the same approach as we had approached with this customer, that we supplied him with a lot of knowledge regarding what he could further do with his IT systems and etc, to enhance his business. Now, this partner was very different from the initial customer that we were interacting with. he perceived us as trying to push our solutions down his throat, and which would not really add much value to his business. So we had to, again change tactics and it took a lot of effort to bring back this customer back on track so that we could continue to supply services unproductive to this customer. When we are discussing perceptions It is very important to consider what hyzer Heisenberg had theorized, Heisenberg had said that absence of dissatisfied as they satisfy us is not enough there needs to be sufficient presence of satisfiers.

We came across a situation when we were Apted, attempting a bid in Thailand. Now, we remove most of the satisfiers from the from the customer perspective. And however, that is not enough. So, what we we came upon the idea of AI based least cost routing. Now, this proved to be a huge way to the customer, and we were the frontrunners. For this way.

This is an ongoing process. So, we are not come to the conclusion of it, but we are in a very favorable situation as far as this particular bid is concerned. With this discussion, we conclude this section. In the next section, we will see some techniques by which we can sell at a price that we desire.