Book: The Joy of Pricing | Michael N. Hurwich

Summary:

285 Pages of articles, case samples and quizzes. A must-have guide for every Product, Marketing and Sales manager.

As the theory goes, it only takes a few minutes and couple of bad reviews to destroy a company, despite taking years to build the brand. So to can pricing destroy a company in a matter of minutes. Get the price wrong, and your company will forfeit thousands, if not millions of dollars. Attempting to correct or re-align a price confuses the customer and erodes both confidence and integrity in any pricing strategy going forward.

There is a common misconception that pricing is a one-off exercise that requires someone in the company to present a price and obtain immediate buy-in - so long as this person’s neck is on the line. This misconception could not be further from the truth. Modern pricing is everyone’s responsibility from Sales to Marking, Finance, Accounting, Operations and Management. Each department plays a key role in creating, capturing and communicating value to the marketplace in order to realize a desired price that matches off against the desired benefits and a fair price/value proposition. The difference between getting the price right is an activity that may only take minutes, hours, days or several weeks by taking an outside-in approach to pricing by talking with your customers to understand how they trade price for your value. The resources, fees, tools and time commitment of obtaining the right price is usually a tiny fraction of the unrealized revenue.

This book is a constant reminder to you that your Price is the most important statement you make about your product. Get it wrong, and you may be in conflict with your company’s corporate goals and objectives. The authors present interesting perspectives to pricing by offering case studies, anecdotes, stories and articles that drive home pricing challenges and opportunities to help guide you towards developing Strategies and Tactics that ensure the “Right” Price is obtained.

Authors:

Michael N. Hurwich

Publisher:

Strategic Pricing Management Group (SPMG) - 2013

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The Joy of Pricing