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Full Description
For undergraduate introduction to Market Pricing courses.A comprehensive and practical, step-by-step guide to pricing analysis and strategy development.The Strategy and Tactics of Pricing shows readers how to manage markets strategically-rather than simply calculate pricing based on product and profit-in order to improve their competitiveness and the profitability of their offers.The fifth edition contains a new chapter on price implementation and several updated examples on pricing challenges in today's markets. Features:NEW! Show students how proper pricing can increase profitability-New Chapter on Price Implementation. A completely new chapter on implementing pricing strategy identifies the challenges involved in embedding strategic pricing principles within an organization. This chapter also describes how managers can lead a structured change process to build a more profitable commercial organization.NEW! Make pricing theory relative-Updated Examples of Pricing. Helping connect pricing theory to what students are familiar with, this edition includes updated examples with more topical illustrations of current pricing challenges such as: * iPhone pricing * New models for pricing music * Services pricingNEW! Present the latest information-Heavily Revised Chapters. The revised chapter on Pricing Policy provides a theoretically-grounded framework to describe specific policies for managing price changes for situations such as:-Cost-based price increases -Price reductions in a recession-DiscountsThe chapter on Value Creation now addresses the difference between how to consider value when it is driven by tangible monetary drivers (saving money on gas) versus the more subjective psychological drivers (doing the right thing for the environment).The chapter on Value and Price Communication has been substantially revised to describe how to communicate value in a wide variety of product and customer contexts. This chapter also demonstrates how to target communications to affect specific behaviors throughout the customer's buying process.The chapter on Price Setting has been expanded to provide a robust process for setting prices that can be widely applied to consumer and business markets.
Contents
1. Strategic Pricing 2. Value Creation 3. Price Structure 4. Price and Value Communication 5. Pricing Policy 6. Price Level 7. Pricing Over the Product Life Cycle 8. Pricing Strategy Implementation 9. Costs 10. Financial Analysis 11. Competition 12. Measurement of Price Sensitivity 13. Ethics and the Law
