Pricing on Purpose: Creating and Capturing Value
Pricing on Purpose explores the importance of pricing, one of the four Ps (product, promotion, place, and price) of marketing, that is largely ignored in business literature. Pricing is the opportunity for a business to capture the value of what it provides to the customer, and deserves as much attention as promotion, product and place in the marketing strategy of any business. This book calls attention to the market share fallacy, explains the difference between cost-plus pricing and value pricing, and provides best-practice pricing examples. It presents the theory of value—long established in the economics profession—and how any business can use various pricing strategies to communicate and capture the value of their products and services.
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and the Assumption of Rationality
No One Person Knows
8ATale of Two Theories
CostPlus Pricings Epitaph
The Wrong Mistakes
PriceLed Costing Replaces Cost Accounting
What and How People Buy
The Value Proposition
There Is No Such Thing as a Commodity
Bad Customers Drive Out Good Customers
Ethics Fairness and Pricing
Who Is in Charge of Value?
Getting Paid for the Value Your Company Creates
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activity-based costing airline antitrust laws behavior better brand buyers capacity capture Chapter charge commodity company’s competency competition competitors consumer surplus cost accounting cost-plus pricing create customer’s customers demand curve determine developed different prices discount Disney economic economists effect efficiency equation exist experience explain firm firm’s flight free market George Gilder human ibid ideas important industry innovation intellectual capital iPod knowledge learning loyalty marginal market share million Nagle and Holden needs Neiman-Marcus offering organization penetration pricing percent Peter Drucker premium price discrimination price sensitive price theory Pricing on Purpose pricing strategies profit purchase revenue risk segments sell Smith’s social sold Stanley Marcus Steven Landsburg subjective theory team members theory of value things Thomas Sowell tickets tion today’s tomers understand utility value proposition wealth yield management
Page xv - THE ROAD NOT TAKEN Two roads diverged in a yellow wood, And sorry I could not travel both And be one traveler, long I stood And looked down one as far as I could To where it bent in the undergrowth...