How do companies determine the features and benefits that differentiate their good, better, and best offerings? What kind of market research and customer insights are necessary to make informed decisions about these offerings so that companies ensure that they are accurately reflecting the value of each offering in their pricing?

What are some potential drawbacks or challenges associated with the good-better-best pricing approach? How can companies ensure that they don't cannibalize sales of their lower-priced offerings by emphasizing their higher-priced ones? How can companies ensure that they are not confusing customers with too many options or making it difficult for them to make a purchasing decision?

Discuss how using the G-B-B strategy might help a company avoid engaging in a price war with competitors. (This will require applying what you read in the article to the discussion of price wars in chapter 10). Can you share examples of companies that have successfully used this approach?