[GET] Smart Pricing - Jagmohan Raju, Z. John Zhang {ePUB}

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Smart Pricing
How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability
- Jagmohan Raju, Z. John Zhang

Smart Pricing introduces many innovative approaches to pricing, as well as the research and insights. Filled with illustrative examples from the business world, readers will learn about restaurants where customers set the price, how Google and other high-tech firms have used pricing to remake whole industries, how executives in China successfully start and fight price wars to conquer new markets.

It is amazing how many companies fail to have a deliberate pricing strategy ? even though this is an absolutely critical and fundamental business element. In fact, many managers rarely give pricing much serious thought at all.

This is unfortunate because pricing offers great opportunities to move ahead for those who are astute and nimble. Instead of pricing your products or services using simplistic methods like cost-plus, match-your-competitors or figure out what people will pay and go with that as a price, there is a rich variety of other pricing strategies to try. For example, you might:

• Figure out how to make money other ways by providing your product or service for free.
• Allow your customers to name their own price ? pay whatever they think your product or service is worth.
• Build automatic price markdowns into your pricing model ? so you can serve customers at both ends of the spectrum.
• Set up subscription plans which allow people to save ? even for items like their weekly grocery shop.
• Develop performance-based pricing systems ? where people pay only if what you have to offer works.
  

Smart Pricing goes well beyond familiar approaches like cost-plus, buyer-based pricing, or competition-based pricing, and puts a wide variety of pricing mechanisms at your disposal. This book helps you understand them, choose them, and use them to win.

"Getting the price right is, in the end, both art and science. Like most business practices, the best pricing decision is grounded not only in theory, but experience and instinct. Ultimately, smart pricing demands not only deep customer knowledge and good economic intuition, but a healthy dose of street smarts. Our experience has taught us that pulling the price lever demands courage and confidence, the kind best built on your knowledge about what pricing can do, how you can price your goods and services, and how consumers and your competition might react to your pricing decisions."-Jagmohan Raju and Z. John Zhang

About Author:
JAGMOHAN RAJU is a professor and chair of the marketing department of The Wharton School of the University of Pennsylvania. Dr. Raju, a graduate of Stanford University, IIM Ahmedabad and IIT Delhi (India), is past marketing editor of Management Science. He has published a large number of papers in his specialist topics of competitive marketing strategy and pricing. Dr. Raju teaches Stanfords core marketing course and a pricing elective course.

Z. JOHN ZHANG is professor of marketing at Wharton. He is a graduate of the University of Michigan, the University of Pennsylvania and Huazong University of Science and Technology (China). Dr. Zhang has lectured at Columbia Business School, Washington University in St. Louis and in China as part of Whartons executive education program.


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[henrysimms]

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