Pricing strategies: harvesting product value

Table of Contents:

Pricing as an Element of the Marketing Mix
Part I. Setting of Initial Prices
Starting Points for Setting an Initial Price
Assessing Value to the Customer
Basic Pricing Strategies and Breakeven Analysis

Part II. Modification of Existing Prices
The Generalized Breakeven Formula and Its Use
Predicting Price-Change Response: Economic and Competitive Factors
Predicting Price-Change Response: Knowledge-Related Factors
Predicting Price-Change Response: Feeling-Related Factors
Empirical Measurement of Price-Change Response

Part III. Developing a Price Structure
Fences for Price Segmentation
Time as a Price-Segmentation Fence
Place as a Price-Segmentation Fence
Pricing to the Less-Informed Segment
Pricing of Interrelated Products

Part IV. Flexible Pricing
Auctions and Competitive Bidding
Negotiation and Participatory Pricing
Systematizing Pricing Decisions
Societal Implications of Pricing

Written by a leading pricing researcher, this book provides a simple unified system for the setting and management of prices. The pricing procedures described are grounded in basic research and are generally applicable over products, situations, and times. The result is that students gain a deeper, more generally useful understanding of this essential aspect of business.

The author demystifies the math necessary for making pricing decisions. Using clear, direct language, he explains in detail how to apply expected value, multiple regression, price elasticity, and generalized breakeven analysis to essential pricing tasks. He uses a descriptive approach to explaining mathematical techniques so that formulas can be seen as simply more detailed specifications of intuitive ideas.

Used in dozens of college and MBA classes all over the world, Pricing Strategies is now available in a second edition. This revised edition includes updated examples and exercises as well as expanded coverage of topics such as freemium and in-app pricing, subscriptions, tipping, pay-what-you-want pricing, pricing algorithms, and dynamic pricing.

Robert M. Schindler is a Professor of Marketing at Rutgers University, USA.

(https://us.sagepub.com/en-us/nam/pricing-strategies/book265611)