A multitiered offering can use a stripped-down product (the “Good” option) to attract new customers, the existing product (“Better”) to keep current customers happy, and a feature-laden premium version (“Best”) to increase spending by customers who want more.

The GBB strategy, a highly effective pricing structure, presents products or services in three tiers: good, better, and best. Each tier is strategically designed to meet distinct customer needs and price sensitivities, thereby catering to a wider audience.