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Setting Profitable Prices, + Website A Step-By-Step Guide to Pricing Strategy--Without Hiring a Consultant

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ISBN-10: 111843076X

ISBN-13: 9781118430767

Edition: 2013

Authors: Marlene Jensen

List price: $49.95
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Time–tested strategies for making the best possible pricing decisions and gaining an unbeatable competitive advantage Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time–consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you′re like most small– to medium–sized business owners and managers, time and money are two things you absolutely don′t have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing…    
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Book details

List price: $49.95
Copyright year: 2013
Publisher: John Wiley & Sons, Incorporated
Publication date: 1/29/2013
Binding: Paperback
Pages: 208
Size: 9.30" wide x 7.35" long x 0.45" tall
Weight: 0.814
Language: English

Author Credentials
If You Can Afford a Pricing Consultant…
Don't Have the Cash to Invest?
How Big of a Rush Are You In?
Chapter Summaries
How to Set Prices for Maximum Profits
Why Pricing is the Key to Your Success
Raise Prices -- or Sell More Products?
Big-Company Case History
Tiny-Company Case History
Why Most Companies Stink at Pricing (and How You Can Do Better!)
The "Myth" of Creating Demand Curves
How Your Competitors are Setting Prices
Cost-Plus Pricing
Match-Your-Competitors Pricing
How the Market Will Value Your New Product
Analyzing Your Competitor's Prices
You DO SO Have Competitors!
How to "Pick" Your Competitors
Direct vs. Indirect Competitors
How Consumers Evaluate Prices
How to Get Profitable Ideas from Your Competitors
Environmental Factors That Can Affect Your Pricing
Environmental Factors Overview
The Economy
Governmental Regulation & Legal
Social Trends
Technological Change
Pick the Positioning of Your New Product
There Are Only 3 Choices!
The Psychology of Price Positioning
Penetration Price Positioning
Skimming (or Premium) Price Positioning
Competitive Price Positioning
Learning More about Competitive Pricing
Analyzing Your Buyer Benefits/Drawbacks Relative to Your Competitors
Uncovering What Buyers REALLY Value/Hate about Products in Your Marketplace
Picking a "Ballpark" for Your Best Price
You Will Not Be "Stuck" with Your Decision!
Can't Make a Profit at that Price Range?
Not Sure About Your Results?
Learn More on Buyer's Reactions to Price Ranges
Your Cost Analysis
Evaluating Your Costs
The Ideas Behind "Target Costing" and "Target Engineering"
Types of Costs
The Hardest Part of Calculating Costs
Reasons for Launching a Product Which Doesn't Cover Overhead
Fine-Tuning Your Price
Is Your Profit Potential Acceptable?
If You're Happy with Your Potential Profits
If You're NOT Happy with Your Potential Profits
Next Step
Psychological Adjustments to Your Price
Understanding "Barriers" in Prices
Staying BELOW Barriers
Increasing Prices UP TO Barriers
Numbers Which Say "Discount" to Buyers
Test Your Knowledge!
Visually Appealing Prices
Selling to Businesses
Learn More about Thresholds
Learn More about the Effect of Numbers
Testing Your Prices
Testing Prices
The Psychology of YOU - in Setting Prices
CAN You Test?
The Difference between "Testing" and "Research"
Using Google to Test Prices for Free (or Almost Free)
How to Test - for FREE!
Using Google Optimizer to Test Multiple Things
Pricing in Special Situations
Pricing Services
Imagine No Chapter 13!
The Complications of Setting Prices for Services
The "Myth" of Pricing Based on What You Want to Earn
Pricing by the Hours versus the Job
Finding What Service Competitors Charge
Picking Your Price Positioning
What Your Price Says about Your Firm
Pricing New Products/Services, Part 1 When Your Brand is Unknown
The Problems in Pricing Something New
Price Equals Quality Buyer Perception
Does Quality Equal Likelihood-to-Buy?
Understanding "Bargain-Hunters"
Price Preferences by Product Type
Detailed Research on Buyer Price Position Preferences
Additional Research on Preferred Prices
Pricing New Products/Services, Part 2 Competing with Established Brands
When Your Competitors are Established Brands
Risk Avoidance
Price Premiums for Known Brands
Discounting Differences
What Causes Customers to Switch to a New Brand?
What Happens AFTER Buyers Switch?
Shocking Findings on Brand Names
So What Does it all Mean for Pricing a New Product/Service?
Pricing with Discounts
Discounts: A Double-Edged Sword
When Discounts Worry Consumers
Determining Best Discount Levels
Discounts Effect on Quality Ratings & Purchase
Concluding Thoughts on Testing Prices
Appendix of Worksheets
About the Author
About the Companion Website