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

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Crown Publishing Group, Sep 20, 2005 - Business & Economics - 240 pages
7 Reviews
Want to make a bad year better or turn a good year into a blockbuster? Stop leaking profits and discover the untapped gold mine that exists in your products.

The Art of Pricing is the first practical, easy-to-understand guide to solving one of the most important dilemmas in business: how to use price to uncover a product’s hidden profits and find new opportunities for growth.

When it comes to setting prices for products and services, even the most sophisticated businesspeople often rely on formulas and seat-of-the-pants instinct, based on what the competition is charging, marking up costs, and doing things as they’ve always been done. The result is that businesses of all sizes, from start-ups to the Fortune 100, leave money on the table.

In The Art of Pricing, Rafi Mohammed, one of the world’s leading experts on pricing strategy, shows:

• The astonishing impact that small changes to a pricing strategy can have on the bottom line

• How the right pricing strategy can boost profits and grow your customer base

• Why the right way to think about pricing is as a series of easy-to-implement strategies that allow companies to serve and profit from the largest possible customer base

• Why the art of pricing involves understanding and capitalizing on the fact that different customer segments are willing to pay different prices for the same product

• Why an effective pricing strategy is not about price gouging but one that incorporates fairness into every important pricing decision

The Art of Pricing will be the invaluable missing link for people running companies, departments, divisions, and product lines, as well as for those in sales and marketing. Dr. Mohammed shows that an effective pricing strategy helps complete the circle by reaping the rewards due for the enormous effort, creativity, and investment made in developing and marketing products and services. Using a range of examples, from neighborhood restaurants to huge companies like Ford, he shows the importance of not falling short—and shortchanging yourself—when it comes to the heretofore little understood art of pricing.

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From the Hardcover edition.

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Review: The Art of Pricing: How to Find the Hidden Profits to Grow Your Business

User Review  - Krista Goon - Goodreads

Fascinating insight into pricing and psychology of price. Made so many notes I might as well re-read it. Rafi makes a dry subject totally entertaining and inspirational! Read full review

Review: The Art of Pricing: How to Find the Hidden Profits to Grow Your Business

User Review  - John - Goodreads

Must have for any small business owner. The Art of Pricing was referred over from a Seth Godin marketing class. Rafi Mohammed breaks down the valuation of pricing structure in an easy to learn form. I ... Read full review

About the author (2005)

Rafi Mohammed is a director at Simon-Kucher & Partners, the prominent international pricing and strategy consulting firm. He received his Ph.D. in economics from Cornell University, is coauthor of Internet Marketing: Building Advantage in a Networked Economy, and is a Batten Fellow at the University of Virginia’s Darden Graduate School of Business. Prior to joining Simon-Kucher & Partners, he was a consultant at Monitor Group.

From the Hardcover edition.

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