Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures / Edition 1

by Tim Smith

Overview

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. 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.

Product Details

ISBN-13:	9780538480888
Publisher:	Cengage Learning
Publication date:	01/18/2011
Pages:	344
Product dimensions:	8.00(w) x 10.10(h) x 0.70(d)

About the Author

Well-known in the industry as a thought leader in pricing, Dr. Tim Smith is Managing Principal of Wiglaf Pricing as well as Adjunct Professor of Marketing at DePaul University. Dr. Smith is a researcher, an instructor, and a consultant in pricing strategy. He is a regular presenter at THE Professional Pricing Society conferences, in both the United States and Europe. With hard-hitting, focused messages for executives, he regularly presents actions that lead to dynamic results. At Wiglaf Pricing, Dr. Smith provides strategic pricing support for globally leading firms such as Symantec, as well as a host of entrepreneurial firms and portfolio companies of private capital. Dr. Smith has developed his insights into pricing through past roles, including Chief Marketing Officer of ISB Development, a software subsidiary of Nonolet in Novosibirsk, Russia, and Business Development Manager of SPL WorldGroup, a software product and consulting firm. Dr. Smith began his career as a research scientist in quantum mechanics before his interest in strategy prompted him to pursue an MBA. His focus on pricing is a natural culmination of his deep love of math and his market orientation. Dr. Smith holds an MBA with High Honors in Strategy and Marketing from the University of Chicago GSB, a PhD in Physical Chemistry from the University of Chicago, a BS in Chemistry and Physics, and BA in Mathematics from Southern Methodist University. In addition to this text, he has authored another book on systematically growing revenue in business.

Table of Contents

Part I: SETTING THE PRICE. 1. Boundaries of a Good Price. 2. Profit's Sensitivity to Price. 3. Consumer Perception Driven Pricing. 4. Price to Value. 5. Psychological Influences to Price Sensitivity. Part II: MANAGING PRICE VARIANCES. 6. Price Segmentation. 7. Price Promotions. 8. Discount Management. Part III: ESTABLISHING PRICE STRUCTURES. 9. Price Structures and Multipart Tariffs. 10. Add-ons and Accessories. 11. Versioning. 12. Bundling. 13. Subscriptions and Customer Lifetime Value. 14. Yield Management. Part IV: PRICING STRATEGY. 15. Competition and Pricing. 16. Product Life Cycle Pricing. 17. Pricing Decisions and the Law.

Editorial Reviews

"The book is the most comprehensive pricing strategy book currently available on the market. It explains conceptual pricing topics that can be readily understood and applied by managers setting and managing price." —Steve Shook, University of Idaho

"The book not only covers the various aspects of strategic pricing, it also provides the necessary quantitative tools to determine the price levels. This book overcomes one of the key weaknesses of its competitor, Nagle and Holden's Strategy and Tactics of Pricing, i.e., not enough tools to arrive at prices." — Praveen Kopalle, Tuck School of Business, Dartmouth College

From the Publisher