The Art of Pricing

The Art of Pricing Author Rafi Mohammed
ISBN-10 1400080932
Year 2005
Pages 236
Language en
Publisher Random House of Canada
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Furnishes a practical and easy-to-understand guide on how to use pricing to increase hidden profits and develop new growth opportunities, offering helpful advice, strategies, and techniques for increasing profit margins. 20,000 first printing.

The Art of Pricing

The Art of Pricing Author Rafi Mohammed
ISBN-10 9780307337320
Year 2005-09-20
Pages 240
Language en
Publisher Crown Business
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Want to make a bad year better or turn a good year into a blockbuster? Stop leaking profits and discover the untapped gold mine that exists in your products. The Art of Pricing is the first practical, easy-to-understand guide to solving one of the most important dilemmas in business: how to use price to uncover a product’s hidden profits and find new opportunities for growth. When it comes to setting prices for products and services, even the most sophisticated businesspeople often rely on formulas and seat-of-the-pants instinct, based on what the competition is charging, marking up costs, and doing things as they’ve always been done. The result is that businesses of all sizes, from start-ups to the Fortune 100, leave money on the table. In The Art of Pricing, Rafi Mohammed, one of the world’s leading experts on pricing strategy, shows: • The astonishing impact that small changes to a pricing strategy can have on the bottom line • How the right pricing strategy can boost profits and grow your customer base • Why the right way to think about pricing is as a series of easy-to-implement strategies that allow companies to serve and profit from the largest possible customer base • Why the art of pricing involves understanding and capitalizing on the fact that different customer segments are willing to pay different prices for the same product • Why an effective pricing strategy is not about price gouging but one that incorporates fairness into every important pricing decision The Art of Pricing will be the invaluable missing link for people running companies, departments, divisions, and product lines, as well as for those in sales and marketing. Dr. Mohammed shows that an effective pricing strategy helps complete the circle by reaping the rewards due for the enormous effort, creativity, and investment made in developing and marketing products and services. Using a range of examples, from neighborhood restaurants to huge companies like Ford, he shows the importance of not falling short—and shortchanging yourself—when it comes to the heretofore little understood art of pricing. Also available as an eBook From the Hardcover edition.

Talking Prices

Talking Prices Author Olav Velthuis
ISBN-10 9781400849406
Year 2013-10-24
Pages 288
Language en
Publisher Princeton University Press
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How do dealers price contemporary art in a world where objective criteria seem absent? Talking Prices is the first book to examine this question from a sociological perspective. On the basis of a wide range of qualitative and quantitative data, including interviews with art dealers in New York and Amsterdam, Olav Velthuis shows how contemporary art galleries juggle the contradictory logics of art and economics. In doing so, they rely on a highly ritualized business repertoire. For instance, a sharp distinction between a gallery's museumlike front space and its businesslike back space safeguards the separation of art from commerce. Velthuis shows that prices, far from being abstract numbers, convey rich meanings to trading partners that extend well beyond the works of art. A high price may indicate not only the quality of a work but also the identity of collectors who bought it before the artist's reputation was established. Such meanings are far from unequivocal. For some, a high price may be a symbol of status; for others, it is a symbol of fraud. Whereas sociological thought has long viewed prices as reducing qualities to quantities, this pathbreaking and engagingly written book reveals the rich world behind these numerical values. Art dealers distinguish different types of prices and attach moral significance to them. Thus the price mechanism constitutes a symbolic system akin to language.

Confessions of the Pricing Man

Confessions of the Pricing Man Author Hermann Simon
ISBN-10 9783319204000
Year 2015-10-20
Pages 221
Language en
Publisher Springer
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The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as a n entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.

Summary The Art of Pricing

Summary  The Art of Pricing Author BusinessNews Publishing
ISBN-10 9782511019955
Year 2014-10-28
Pages 15
Language en
Publisher Primento
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The must-read summary of Rafi Mohammed's book: "The Art of Pricing: How to Find the Hidden Profits to Grow Your Business". This complete summary of the ideas from Rafi Mohammed's book "The Art of Pricing" states that pricing is never "one-size-fits-all". If you think that way, you’re leaving money on the table in the form of hidden profits you can and should access to grow your business. In his book, the author explains that instead of looking for the "perfect" price where consumer demand is optimised and your profits are maximised, try a more multi-dimensional approach instead. This summary offers three different tools that you will need to approach your pricing decisions more effectively and grow your business. Added-value of this summary: • Save time • Understand key concepts • Expand your knowledge To learn more, read "The Art of Pricing" and discover the new approach to pricing that will access your hidden profits and help you to grow.

The 1 Windfall

The 1  Windfall Author Rafi Mohammed
ISBN-10 9780061985270
Year 2010-03-16
Pages 256
Language en
Publisher Harper Collins
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Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices. The 1% Windfall reveals how modest incremental changes to an everyday business practice—pricing—can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%. The good news is that better pricing is more than simply raising prices. Instead, the key is to offer customers a variety of pricing options. This strategy is win-win: profits to companies and choices for consumers. But how do executives and managers set the right price? Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question. This book offers guidelines that any company—whether a multinational conglomerate, a small business, or even a nonprofit—can follow to create a comprehensive pricing strategy for any product or service. In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor. The result is a mind-opening, clear blueprint for com-panies to price for profit and growth.

Handbook of Pricing Research in Marketing

Handbook of Pricing Research in Marketing Author Vithala R. Rao
ISBN-10 9781848447448
Year 2009
Pages 616
Language en
Publisher Edward Elgar Publishing
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Pricing is an essential aspect of the marketing mix for brands and products. Further, pricing research in marketing is interdisciplinary, utilizing economic and psychological concepts with special emphasis on measurement and estimation. This unique Handbook provides current knowledge of pricing in a single, authoritative volume and brings together new cutting-edge research by established marketing scholars on a range of topics in the area. The environment in which pricing decisions and transactions are implemented has changed dramatically, mainly due to the advent of the Internet and the practices of advance selling and yield management. Over the years, marketing scholars have incorporated developments in game theory and microeconomics, behavioral decision theory, psychological and social dimensions and newer market mechanisms of auctions in their contributions to pricing research. These chapters, specifically written for this Handbook, cover these various developments and concepts as applied to tackling pricing problems. Academics and doctoral students in marketing and applied economics, as well as pricing-focused business practitioners and consultants, will appreciate the state-of-the-art research herein.

The Oxford Handbook of Pricing Management

The Oxford Handbook of Pricing Management Author Özalp Özer
ISBN-10 9780191634277
Year 2012-06-07
Pages 976
Language en
Publisher OUP Oxford
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The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.

The Psychology of Price

The Psychology of Price Author Leigh Caldwell
ISBN-10 9788184957686
Year 2015-12-07
Pages 248
Language en
Publisher Jaico Publishing House
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How to Use Price to Increase Demand, Profit and Customer Satisfaction HOW SMART IS YOUR PRICING? For any business, deciding how much to charge for a product or service is crucial. By gaining an insight into the way consumers think and purchase, you can generate more demand, more customer value – and more profit. MAXIMISE REVENUE • How do unwanted products Influence what customers expect to pay? • How does offering extras for free dramatically increases Perceived Value? • Why does changing the timing of a payment make people pay 50% More? TRIED AND TESTED TECHNIQUES Written by the founder of Inon, a leading pricing consultancy, whose clients range from the BBC and Grant’s Whisky to Alzheimer’s Disease International and HM Treasury, The Psychology of Price provides an insight into the strategies used by multinational corporations. Leigh Caldwell is a pricing expert and leading researcher in behavioural economics, writing the UK’s most popular behavioural blog (www.knowingandmaking.com) and appearing as a frequent guest on BBC News. By background a mathematician and economist, he is the founder and chief executive of Inon, the UK’s leading pricing consultancy.

Monetizing Innovation

Monetizing Innovation Author Madhavan Ramanujam
ISBN-10 9781119240884
Year 2016-05-02
Pages 256
Language en
Publisher John Wiley & Sons
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Surprising rules for successful monetization Innovation is the most important driver of growth. Today, more than ever, companies need to innovate to survive. But successful innovation—measured in dollars and cents—is a very hard target to hit. Companies obsess over being creative and innovative and spend significant time and expense in designing and building products, yet struggle to monetize them: 72% of innovations fail to meet their financial targets—or fail entirely. Many companies have come to accept that a high failure rate, and the billions of dollars lost annually, is just the cost of doing business. Monetizing Innovations argues that this is tragic, wasteful, and wrong. Radically improving the odds that your innovation will succeed is just a matter of removing the guesswork. That happens when you put customer demand and willingness to pay in the driver seat—when you design the product around the price. It’s a new paradigm, and that opens the door to true game change: You can stop hoping to monetize, and start knowing that you will. The authors at Simon Kucher know what they’re talking about. As the world’s premier pricing and monetization consulting services company, with 800 professionals in 30 cities around the globe, they have helped clients ranging from massive pharmaceuticals to fast-growing startups find success. In Monetizing Innovation, they distil the lessons of thirty years and over 10,000 projects into a practical, nine-step approach. Whether you are a CEO, executive leadership, or part of the team responsible for innovation and new product development, this book is for you, with special sections and checklist-driven summaries to make monetizing innovation part of your company’s DNA. Illustrative case studies show how some of the world’s best innovative companies like LinkedIn, Uber, Porsche, Optimizely, Draeger, Swarovski and big pharmaceutical companies have used principles outlined in this book. A direct challenge to the status quo “spray and pray” style of innovation, Monetizing Innovation presents a practical approach that can be adopted by any organization, in any industry. Most monetizing innovation failure point home. Now more than ever, companies must rethink the practices that have lost countless billions of dollars. Monetizing Innovation presents a new way forward, and a clear promise: Go from hope to certainty.

The ROI of Pricing

The ROI of Pricing Author Stephan Liozu
ISBN-10 9781135051815
Year 2014-01-24
Pages 236
Language en
Publisher Routledge
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As with executives and managers in so many other business functions, pricing specialists are being challenged more and more to substantiate the added value of their activities. Pricing is a core function of every business, and needs not only to contribute positively to short- and long-term results, but also to document its impact to the bottom line. A fundamental part of this is the pricing ROI calculations. This book, edited by globally renowned thought leaders Andreas Hinterhuber and Stephan Liozu, is the first to outline contemporary theories and best practices of documenting pricing ROI. It provides proven methods, practices and theories on how to calculate the impact of pricing activities on performance. Marketing ROI is now a common concept: this collection proves to do the same for pricing. Hinterhuber & Liozu introduce the concept of pricing ROI, documenting and quantifying the return on pricing activities and on the pricing function itself is of increasing relevance today and in the future – in times of budget constraints. 20 world class specialists explore the concept of pricing ROI under both a theoretical perspective and a managerial perspective to shed much-needed light on how to measure and increase pricing ROI. This groundbreaking book will enlighten students and specialists of marketing and sales, pricing managers and executives alike.

Principles of Pricing

Principles of Pricing Author Rakesh Vohra
ISBN-10 9781107010659
Year 2012-03-05
Pages 250
Language en
Publisher Cambridge University Press
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"Many businesses focus on driving volume or reducing costs rather than increasing price under the mistaken belief they have greater control over volume and costs than price. Yet, a 1% increase in price (holding volume fixed) has a greater impact on operating profit than a 1% increase in volume or a 1% decrease in cost. By not seizing the initiative on price, businesses abrogate decisions about price to competitors, customers, and the channel. A careful analysis and understanding of those same actors could help them price in a more profitable manner. Hence, this book, which is designed to communicate the fundamental principles of pricing. In marked contrast to other books on pricing, this one is based on economic theory. This is not to deny the value to be had from looking at pricing through other lenses. It is simply that these other lenses do not yet provide a systematic and organized way to think about pricing. Economic theory does. Its power is not in the provision of to-do lists or the Gradgrind-like accumulation of facts.8 Rather, it is in generating the right questions to be asked. Both our own experiences and that related to us by our students who have taken our classes has confirmed us in this view. A second point of contrast with other treatments of pricing is that we convey principles through stylized examples rather than anecdotes"--Provided by publisher.

How to Price

How to Price Author Oz Shy
ISBN-10 9781139469227
Year 2008-01-14
Pages
Language en
Publisher Cambridge University Press
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Over the past four decades, business and academic economists, operations researchers, marketing scientists, and consulting firms have increased their interest and research on pricing and revenue management. This book introduces the reader to a wide variety of research results on pricing techniques in a unified, systematic way and at varying levels of difficulty. The book contains a large number of exercises and solutions and therefore can serve as a main or supplementary course textbook, as well as a reference guidebook for pricing consultants, managers, industrial engineers, and writers of pricing software applications. Despite a moderate technical orientation, the book is accessible to readers with a limited knowledge in these fields as well as to readers who have had more training in economics.

Innovation in Pricing

Innovation in Pricing Author Andreas Hinterhuber
ISBN-10 0415521645
Year 2012
Pages 416
Language en
Publisher
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Pricing has a substantial and immediate impact on profitability. Most companies, however, still use costs or competition as a main basis for setting prices. Product or business model innovation has a high priority for many companies whereas innovation in pricing has received scant attention. This book examines how innovation in pricing can drive profits. The text examines innovation in pricing from four complementary perspectives. Innovation in Pricing Strategy illustrates how companies implement innovative pricing strategies, such as customer value-based pricing. Innovation in Pricing Tactics deals with innovative tools to measure and increase customer willingness to pay and to communicate value to B2B and B2C customers. Innovation in Organizing the Pricing Function looks at state-of-the art approaches to embed the pricing function in the organization. Psychological Aspects of Pricing illustrates how companies can influence customer perceptions of value and price in their question to implement innovation in pricing. This edited volume brings together 26 articles from academics, business practitioners and consultants. Authors are from the world's largest companies, leading research-based universities and consulting companies specialized in pricing. This book is the only book dedicated to innovation in pricing and an essential read for business executives and pricing managers wishing to treat innovation in pricing as seriously as they treat product or business model innovation.

Pricing Strategy Setting Price Levels Managing Price Discounts and Establishing Price Structures

Pricing Strategy  Setting Price Levels  Managing Price Discounts and Establishing Price Structures Author Tim Smith
ISBN-10 9781133172734
Year 2011-01-18
Pages 344
Language en
Publisher Cengage Learning
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Show students how to use pricing decisions to maximize a firm's profits by creating and capturing customers. PRICING STRATEGY: SETTING PRICE LEVELS, MANAGING PRICE DISCOUNTS AND ESTABLISHING PRICE STRUCTURES is written by Tim J. Smith, recognized pricing thought leader and successful principal of a respected pricing firm. The most comprehensive pricing text on the market, PRICING STRATEGY highlights the stakeholder's importance in making decisions, as well as key trade-offs to consider when choosing between opposing outcomes. Students will gain a better understanding of the most important influences to consider when making pricing decisions. This text strikes an appropriate balance between quantitative skill sets and the qualitative concepts necessary for business growth. Core concepts are presented in chapters with optional appendices that require more rigorous knowledge of introductory calculus. The book draws the best thinking from numerous disciplines, including marketing, economics, and finance, to deliver a comprehensive presentation that comes alive through numerous case studies, memorable examples, and graphs. Assist students in developing the pricing strategies and skills needed for business success with Smith's PRICING STRATEGY. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.