Description
Book SynopsisWritten 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.
Table of ContentsPricing 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
