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Pricing Of Products & Services

Author : Tridib Mazumbar
Publisher : World Scientific
ISBN 13 : 9811204195
Total Pages : 377 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Pricing Of Products & Services by : Tridib Mazumbar

Download or read book Pricing Of Products & Services written by Tridib Mazumbar and published by World Scientific. This book was released on 2020-12-15 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The price of a product or a service is a critical element of the marketing mix. Price influences product demand, and the firm's revenue and profits. Prices also signal product quality and value, customer self-image, and the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts — current and emerging.Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology as well as the decision rules that consumers employ in framing of and responding to prices.As a practical step-by-step guide for firms, the book presents a comprehensive framework for pricing decisions. The framework illustrates how firms' pricing decisions are shaped by customer valuation of the product or service, firm cost, and competition within the category. Additional considerations include: channel arrangements, legal and regulatory limits, public sentiments, and the overriding strategy for the firm. Short cases and numerical examples help illustrate how these factors can be incorporated in firm making decisions.In addition to offering the theoretical foundation and practical guidelines for pricing, there are several distinctive features of the book.Pedagogically, the book takes a quantitative approach to pricing decisions and places a special emphasis on the utilization of data and analytics. Nevertheless, sound intuition and judgments remain a prerequisite.

Pricing of Products & Services

Author : Tridib Mazumbar
Publisher : World Scientific Publishing Company
ISBN 13 : 9789811204173
Total Pages : 250 pages
Book Rating : 4.2/5 (41 download)

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Book Synopsis Pricing of Products & Services by : Tridib Mazumbar

Download or read book Pricing of Products & Services written by Tridib Mazumbar and published by World Scientific Publishing Company. This book was released on 2020 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The price of a product or a service is a critical element of the marketing mix. If priced too low, product sales may go up, but the product margin suffers; priced too high, customers look for other alternatives and sales may decline. Despite the critical role price plays in influencing corporate revenue and profit growths, formal training of the pricing function is often missing from business school curriculum. This book provides business students as well as managers necessary tools to make profitable pricing decisions under a variety of real-life contexts current and emerging. It offers a balance of theory, applications, and analytics to achieve the goal of arriving at appropriate pricing decisions in a competitive and changing business environment. The book begins with a framework for pricing decision and utilizes short cases and numerical illustrations to demonstrate how customer valuation, cost, and competition are triangulated to arrive at a feasible price range for a new or an existing product. Theories from economics and psychology provide conceptual foundations for price customization and segmentation, framing price offers to customers, price bundling, and other prevalent pricing practices.

Introduction to Business

Author : Lawrence J. Gitman
Publisher :
ISBN 13 :
Total Pages : 1455 pages
Book Rating : 4./5 ( download)

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Book Synopsis Introduction to Business by : Lawrence J. Gitman

Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2024-09-16 with total page 1455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.

The Psychology of Price

Author : Leigh Caldwell
Publisher : Jaico Publishing House
ISBN 13 : 8184957688
Total Pages : 170 pages
Book Rating : 4.1/5 (849 download)

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Book Synopsis The Psychology of Price by : Leigh Caldwell

Download or read book The Psychology of Price written by Leigh Caldwell and published by Jaico Publishing House. This book was released on 2015-12-07 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Pricing Your Products and Services Profitably

Author : Judy Nye
Publisher :
ISBN 13 :
Total Pages : 6 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Pricing Your Products and Services Profitably by : Judy Nye

Download or read book Pricing Your Products and Services Profitably written by Judy Nye and published by . This book was released on 1987 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pricing for Profit

Author : Dale FURTWENGLER
Publisher : AMACOM Div American Mgmt Assn
ISBN 13 : 0814415180
Total Pages : 237 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Pricing for Profit by : Dale FURTWENGLER

Download or read book Pricing for Profit written by Dale FURTWENGLER and published by AMACOM Div American Mgmt Assn. This book was released on 2009-09-09 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many small business owners are trapped by industry pricing and market misconceptions, when they could be compensated for the true value of the product or service being offered. The low price they feel compelled to offer limits their ability to generate profits which, in turn, slows their response to changing customer needs. The good news is that a business can command almost any price it chooses by focusing on the value—not the cost—to the customer. Pricing for Profit shows businesspeople how to break out of the stranglehold of industry pricing and charge more for their wares (regardless of the competition) without alienating their customers. Readers will learn how to: • Quantify the value of their products or services • Distinguish between price buyers and value buyers • Bundle their offerings for competitive advantage and increased customer value • Craft a powerful marketing message that communicates value • Generate more unit sales and close more sales overall, at higher prices • Make more money with less effort Filled with easy-to-use formulas, sample scripts, clear examples, instructive exercises, and more, this accessible and practical guide is a must-read for businesspeople who want to be well-paid for the value they provide.

Innovation in Pricing

Author : Andreas Hinterhuber
Publisher : Routledge
ISBN 13 : 1136199748
Total Pages : 447 pages
Book Rating : 4.1/5 (361 download)

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Book Synopsis Innovation in Pricing by : Andreas Hinterhuber

Download or read book Innovation in Pricing written by Andreas Hinterhuber and published by Routledge. This book was released on 2013-05-07 with total page 447 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Setting Profitable Prices

Author : Marlene Jensen
Publisher : John Wiley & Sons
ISBN 13 : 1118502663
Total Pages : 82 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Setting Profitable Prices by : Marlene Jensen

Download or read book Setting Profitable Prices written by Marlene Jensen and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Time-tested strategies for making the best possible pricing decisions and gaining an unbeatable competitive advantage Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time-consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you're like most small- to medium-sized business owners and managers, time and money are two things you absolutely don't have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing that you'll never again leave money on the table when determining prices. And you'll spend the least possible time setting your more profitable prices. Packed with valuable worksheets and other valuable tools to help guide your research and your pricing decision-making A goldmine of expert tips for pricing in any specialty market, it offers a highly effective way to market your company's product more effectively and profitably Shows you how to avoid making your competitors' pricing mistakes and gain a powerful competitive edge in the process The author uses examples drawn from her years of consulting work with companies large and small, including Food Network, American Express Publishing, and Playboy

Software Product Management and Pricing

Author : Hans-Bernd Kittlaus
Publisher : Springer Science & Business Media
ISBN 13 : 3540769870
Total Pages : 234 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis Software Product Management and Pricing by : Hans-Bernd Kittlaus

Download or read book Software Product Management and Pricing written by Hans-Bernd Kittlaus and published by Springer Science & Business Media. This book was released on 2008-12-18 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Software product management and pricing are key success factors for any organization providing software, be it a software company or an organization responsible for software in a company that belongs to a different industry. After defining the term "software product" and looking at the business and organizational sides, the core elements of software product management and pricing are discussed. Recommendations are given on how to deal with these elements depending on different types of organizations and products in order to achieve the long-term success.

How to Price Your Product or Service Just Right

Author : Barney Kemps
Publisher : Editora Bibliomundi
ISBN 13 : 1526044471
Total Pages : 48 pages
Book Rating : 4.5/5 (26 download)

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Book Synopsis How to Price Your Product or Service Just Right by : Barney Kemps

Download or read book How to Price Your Product or Service Just Right written by Barney Kemps and published by Editora Bibliomundi. This book was released on 2022-03-09 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you are trying to sell something on the Internet, pricing your services/ products would be the single most important decision you will take. Since, the Internet provides thousands of alternatives to the customers, you need to be at par with the competition. The prices that you quite will determine how long you can stay in the market. You need to acquire a clear cut idea about pricing. To what extent can you push it? How often do you need to review the prices? A lot would depend on how you handle this stage of business.You have to pinpoint a consumer group to begin with and then estimate how much they would be willing to pay for your services or products. But besides that you also have to ensure that you make some profit for yourself. And quite often these two demands can be in conflict with each other. Different people use different techniques to set the prices of their products. Some of them have a scientific basis and some do not. Given below is one such procedure which works with an understanding of the production cost, customer expectations and other players in the field. Cost is defined as the sum total of the expenses that you incur when making a product. Expenses include cost of raw material, machinery, packaging, delivery etc. Price is amount customers have to pay for per unit of you product /service. For you to make a profit, the price should be more than the cost. Your prices should be consistently above the cost if you are planning to run your company for a long time, except in special cases. Sometimes you can lower the prices, to gain entry into a market for example. Starting with prices which are lower than your competitors would make people notice you. And once you collect a decent number of customers you can gradually increase prices! How much would customers pay for your services is directly proportional to significant and valuable they think your product is. Of course your marketing strategies and reputation in the market will play a significant role in this regard. Between these two numbers, your cost and the price your customers are willing to pay for your product lies your ideal price. If your price is a little lower than what your customers are willing to pay for your services, it would definitely work in your favor in the long run. If your price is higher that what is fair in the eyes of the customer you would end up losing your appeal and market and gradually your viability.

Pricing with Confidence

Author : Reed K. Holden
Publisher : John Wiley & Sons
ISBN 13 : 1118045343
Total Pages : 242 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Pricing with Confidence by : Reed K. Holden

Download or read book Pricing with Confidence written by Reed K. Holden and published by John Wiley & Sons. This book was released on 2010-12-28 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bad pricing is a great way to destroy your company’s value, revenue, and profits. With ten simple rules, this book shows you how to deliver both healthy profit margins and robust revenue growth while kicking the dreaded discounting habit. The authors destroy the conventional wisdom that you have to trade margins for revenues and show you how to fully exploit the value your company offers customers. This is a proven plan for increasing sales without sacrificing profits.

Pricing and Profitability Management

Author : Julie Meehan
Publisher : John Wiley & Sons
ISBN 13 : 047082705X
Total Pages : 256 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis Pricing and Profitability Management by : Julie Meehan

Download or read book Pricing and Profitability Management written by Julie Meehan and published by John Wiley & Sons. This book was released on 2011-06-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The practical guide to using pricing and profitability management to build a better business A comprehensive reference for any business professional looking to understand the capabilities and competencies required for effectively managing pricing and profitability, Pricing and Profitability Management explains how to determine the right approach, tools, and techniques for each of six key categories (pricing strategy, price execution, advanced analytics and optimization, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness). Exploring each category in detail, the book addresses how an integrated approach to pricing improvement can give a sustainable, competitive advantage to any organization. The ultimate "how to" manual for any executive or manager interested in price management, the book presents a holistic, comprehensive framework that shows how integrating these pricing categories into a cohesive program leads to impressive gains that cannot be achieved through a single-pronged approach. Presents a comprehensive framework for more effectively managing pricing and profitability Identities the six key categories of pricing and profitability management Shows you how to gain a competitive edge by managing pricing and profitability Taking a comprehensive view of pricing, companies can position themselves to tap a vast source of shareholder value—the ability to set and enforce profitable prices, not just once, but again and again in response to marketplace changes and evolving business needs—and this book will show you how.

Price Discrimination Via Proprietary Aftermarkets

Author : Eric Emch
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Price Discrimination Via Proprietary Aftermarkets by : Eric Emch

Download or read book Price Discrimination Via Proprietary Aftermarkets written by Eric Emch and published by . This book was released on 2000 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monetizing Innovation

Author : Madhavan Ramanujam
Publisher : John Wiley & Sons
ISBN 13 : 1119240867
Total Pages : 263 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Monetizing Innovation by : Madhavan Ramanujam

Download or read book Monetizing Innovation written by Madhavan Ramanujam and published by John Wiley & Sons. This book was released on 2016-05-02 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Advanced Introduction to Pricing Strategy and Analytics

Author : Vithala R. Rao
Publisher : Edward Elgar Publishing
ISBN 13 : 1788110080
Total Pages : 321 pages
Book Rating : 4.7/5 (881 download)

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Book Synopsis Advanced Introduction to Pricing Strategy and Analytics by : Vithala R. Rao

Download or read book Advanced Introduction to Pricing Strategy and Analytics written by Vithala R. Rao and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Advanced Introduction explores strategies of pricing products (goods and services) that can be employed by a firm. The analytical techniques and data necessary for implementing the pricing strategies are described in an easy-to-understand manner, along with examples. Pricing strategies covered include cost-plus, reference value pricing, product line pricing, pricing product bundles, pricing over time, pricing under competition, and subscription pricing.

Price Management

Author : Hermann Simon
Publisher : Springer
ISBN 13 : 3319994565
Total Pages : 569 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Price Management by : Hermann Simon

Download or read book Price Management written by Hermann Simon and published by Springer. This book was released on 2018-12-11 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)

Pricing Strategy

Author : Tim J. Smith
Publisher : Thomson South-Western
ISBN 13 : 9781111571290
Total Pages : 318 pages
Book Rating : 4.5/5 (712 download)

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Book Synopsis Pricing Strategy by : Tim J. Smith

Download or read book Pricing Strategy written by Tim J. Smith and published by Thomson South-Western. This book was released on 2012 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to make pricing decisions that will maximize a firm’s profits by creating and capturing customers with PRICING STRATEGY: SETTING PRICE LEVELS, MANAGING PRICE DISCOUNTS AND ESTABLISHING PRICE STRUCTURES, International Edition. Written by recognized pricing thought leader and principal of a successful pricing firm, Tim J. Smith, this comprehensive book emphasizes the stakeholder’s importance in making decisions, while highlighting key trade-offs to consider when choosing between opposing outcomes. In this book’s balanced presentation of quantitative instruction and qualitative concepts, learn more about the influences that should guide your decision making.