The Art of Pricing, New Edition: How to Find the Hidden Profits to Grow Your Business

Description

Want to make a bad year better or turn a good year into a blockbuster? Improve your pricing strategy and discover the untapped gold mine that exists in your products and services. Whether you are in marketing, a manager, on the salesforce, in finance, or the CEO/CFO, pricing your products matters to you. The Art of Pricing is a practical guide for solving one of the most important dilemmas in business: how to use price to uncover hidden profits and find new opportunities for growth. This roadmap to pricing illustrates and explains: The financial windfall that can be reaped from small changes in price Methods to derive the “right price” for your product or service How a series of easy-to-implement strategies enables companies to serve and profit from the largest possible customer base How new pricing strategies can activate dormant customers Why the key to better pricing is to provide customers with options – different prices, versions, and opportunities to purchase – to best meet their needs. Using a range of examples, from small businesses to big companies like Ford, Rafi shows how expanding your vision of pricing can accelerate profits and growth at your company. Critical Reviews When The Art of Pricing first came out, The New York Times named it among those business books that “should have been best sellers” but got lost “in the shuffle.” “The key to getting that additional profit, Mr. Mohammed contends in a clear, conversational tone, is to offer customers a variety of pricing options and allow them to pick the one that works best for them…What is clear from Mr. Mohammed’s book is that it might be easier to produce greater margins by concentrating on the numerator (price) – what you charge – instead of obsessing about costs.” The New York Times “ The Art of Pricing is an entertaining primer on how to unlock ‘hidden profits’ and growth by aligning your product’s price with the value customers place on it.” BusinessWeek SmallBiz “This conversational, easy and informative read is worth paying attention to.” Entrepreneur Magazine “Here is a book that is really ‘where the rubber meets the road’ pricing…I enjoyed this book because the author wrote a book full of real world examples.” A Jack Covert Monthly Selection, 800CEOREAD Included in the Forbes’ Entrepreneurial Library (10 books that no entrepreneur should be without). “Pricing products and services is one of the most crucial, and difficult, decisions that an entrepreneur will make…he (Mohammed) finds psychological and macroeconomic rules to help readers set prices effectively as they enter the marketplace.” Forbes.com Testimonials “A lighthearted, anecdotal, but theoretically sophisticated primer on pricing, highly personal and readable, with abundant illustrations.” Alfred E. Kahn, Robert Julius Thorne Professor of Political Economy, Emeritus, at Cornell University, and former chairman of the Civil Aeronautics Board “ The Art of Pricing is a ‘must read’ for every manager; it will help you better serve your customers as well as make you more money.” Irving Azoff, CEO of TicketMaster and CEO of Frontline Management “This book is richly illustrated with stories that show how pricing is as much disciplined science as art, and that masters of this discipline can reap profit while delighting customers. Rafi Mohammed is the da Vinci of pricing!” Robert G. Cross, Chairman and CEO of Revenue Analytics Review: A must read for any business owner - Do you own a business? This book is a must read. Rafi challenges every thought you have ever had on pricing. His complete goal is to make you the most money by changing your pricing metrics. Although at times it was a little repetitive, the book will make you think. Why do you price this way and not that way? Why not charge more? Why not charge less? What about bundling? What about value customers? He uses example after example to challenge your thoughts on profit. Rafi not only challenges you to considering raising prices, but he also challenges you to lower your prices. His goal is for you to gain the most customers and make the most money, from “value” customers to customers that really value your product/service. Although I have a obscure business and a lot of this isn’t directly applied to my entertainment business, it still transfers over. I will make more money this year because of this book, and would recommend it to any small business or large business owner. Review: Comprehensive pricing strategies, well explained - Very well organized book on pricing strategies. The author does a great job of explaining the pricing concepts, breaking the concepts down into objective and easy to grasp framework. Good relevant examples. Overall very well written book and great reference and framework to understand and deploy pricing for profitable growth.