Price Advantage

ISBN-10: 0470481773
ISBN-13: 9780470481776
Edition: 2nd 2010
List price: $65.00 Buy it from $56.45
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Description: A comprehensive look at creating pricing strategies that work in both good economic times and badWritten by three preeminent pricing experts at McKinsey & Company, the Second Edition of The Price Advantage is a practical pricing guide for the  More...

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Book details

List price: $65.00
Edition: 2nd
Copyright year: 2010
Publisher: John Wiley & Sons, Limited
Publication date: 6/25/2010
Binding: Hardcover
Pages: 384
Size: 6.25" wide x 9.25" long x 1.25" tall
Weight: 1.584
Language: English

A comprehensive look at creating pricing strategies that work in both good economic times and badWritten by three preeminent pricing experts at McKinsey & Company, the Second Edition of The Price Advantage is a practical pricing guide for the executive or pricing practitioner who wants to identify, capture, and sustain substantial pricing gains in their business.Pricing is by far the most powerful profit lever that managers can influence. Yet few companies approach pricing in a way that fully capitalizes on its value. This Second Edition, a major revision and extension of the first book, shows you what it takes to achieve the price advantage in today′s competitive and complex business environments. Based on in-depth, first-hand experience with thousands of companies, this book provides managers with a pragmatic guide through the maze of pricing issues. It reinforces why pricing excellence is more critical than ever today and then explains state-of-the-art approaches to analyzing and improving your own pricing strategy and execution. Explores the fundamental role of pricing infrastructure in achieving the price advantage Includes new topics such as software and information products pricing, lifecycle pricing, custom-configured products pricing, pricing of high-count product lines, pricing in distributed sales environments, "razor/razor blades" pricing, and tiered products and services pricing Revisits the full range of classic McKinsey pricing tools, including the pocket price waterfall and value mapsEngaging and informative, the Second Edition of The Price Advantage will put this essential discipline in perspective.

MICHAEL V. MARN is a partner in the Cleveland office of the international consulting firm of McKinsey & Company. He joined McKinsey in 1977, and has developed some of the most widely used analytical approaches for identifying and capturing opportunities in pricing. He has written articles on pricing that have appeared in publications including the Wall Street Journal, the New York Times, and the Harvard Business Review.ERIC V. ROEGNER is a partner in the Cleveland office of McKinsey & Company. Since joining McKinsey in 1994, he has served clients in all major markets on a wide range of pricing and marketing issues. In addition, he has published several articles on pricing and marketing strategy in journals including Marketing Management, the OESA Journal, and the McKinsey Quarterly.CRAIG C. ZAWADA is a partner in the Pittsburgh office of McKinsey & Company. Since joining McKinsey in 1997, he has worked with companies across a wide range of industries, helping them to identify and capture improvements in pricing. He is widely published in the area of pricing strategy, with articles appearing in the Harvard Business Review, Mergers and Acquisitions, and the McKinsey Quarterly.RAJNEESH SURI, PhD, is Assistant Professor of Marketing at Drexel University. His expertise is pricing, promotions, and branding. He was an expert in the pricing practice at McKinsey & Company and?a visiting assistant professor at Cornell University before his academic appointment at Drexel University.

Roegner is a partner in the Cleveland office of McKinsey & Company. Since joining McKinsey in 1994, he has served clients in all major markets on a wide range of pricing and marketing issues.

Zawada is a partner in the Pittsburgh office of McKinsey & Company. Since joining McKinsey in 1997, he has worked with companies across a wide range of industries, helping them to identify and capture improvements in pricing strategy.

Preface
Acknowledgments
Pricing Fundamentals
Introduction
The Power of 1 Percent
The Price/Volume Tradeoff
Market Forces Add Pressure
The Nobility of Pricing Excellence
Why the Price Advantage Is So Rare
Components of Pricing Excellence
An Integrated Approach
An Interdependent Hierarchy
Applying to Your Company-Pinpointing the Opportunity
Exploring the Levels
Transactions
The Pocket Price Waterfall
The Pocket Price Band
The Soundco Radio Company Case
Pocket Margin Waterfall and Band
Alen Glass Company Case
Customer Value
Mapping Value
Creating a Value Map
Making Moves on the Value Map
Putting Customers on the Value Map
Value Profiling
Market Strategy
Profiting from Better Price Predictions
Planning for an Expected Price Change
Maintaining Optimal Production and Capacity
Improving Pricing Conduct
Influencing the Elements of Pricing Conduct
A Word on Followership
Pricing Infrastructure
Processes-What Are the Most Critical Types of Pricing Decisions for Your Business?
Organization-Who Is Running the Pricing Profit Center?
Performance Management-How Should We Recognize and Reward Pricing Performance?
Systems and Tools-No Magic Bullet Exists
Unique Events
Postmerger Pricing
A Temporary Window of Opportunity
Tremendous Opportunities at Each Pricing Level
Avoiding Common Postmerger Traps
Antitrust Laws
Price Wars
Why Price Wars Should Be Avoided
What Really Causes Price Wars
Staying Out of Price Wars
Getting Out of Price Wars
When a Price War Might Make Sense
Expanding the Boundaries
Legal Degrees of Freedom
Pricing Decisions That Raise Red Flags
Minimizing Risks While Meeting Pricing Objectives
Calling in the Attorneys
Lifecycle Pricing
What Makes Lifecycle Pricing Tough
The Three Phases of Product Lifecycle Pricing
Sustaining Returns Across the Lifecycle
Pricing Architecture
Managing Price Perception
Influencing Customer Behavior
Price Architecture Based on Supplier Role
Advanced Topics
Complexity Management
Custom-Configured Products
High-Count Product Lines
Distributed Sales Models
Tailored Value
Price Segmentation
Tiered Products and Services
New Products
"Razor/Razor Blades" Offerings
Solutions
Software and Information Products
Unique Characteristics That Impact Pricing
Exploring the Elements of Pricing
Making Change Happen
Pricing Transformation
Designing a Clear Change Program
Accelerating and Embedding Change
The Monnarch Battery Case
The Monnarch Battery Company
Transactions
Customer Value
Market Strategy
Capturing the Monnarch Pricing Opportunity
Hard-Wiring the Change
Epilogue
Pocket Price and Pocket Margin Waterfalls
Antitrust Issues
U.S. Pricing Law
EU Pricing Law
Antitrust Information Sources
List of Acronyms and Abbreviations
About the Web-Based Tool: Periscope
About the Authors
Index

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