Getting Price Right
Columbia University Press (Verlag)
978-0-231-19070-1 (ISBN)
Winner, 2022 Leonard L. Berry Marketing Book Award, American Marketing Association
How do leaders, managers, and proprietors go about the essential task of setting prices? What biases enter into this process, and why? How can a business debias its price setting to become more productive, strategic, and profitable?
Combining perceptive insights from behavioral economics with leading-edge ideas on price management, this book offers a new approach to pricing. Gerald Smith demonstrates why understanding, reframing, and refining everyday pricing processes—a firm’s or manager’s pricing orientation—results in a better long-term pricing strategy. He explores how pricing actually happens in practice and shows how to identify and remove the psychological blinders that cause suboptimal decisions and policies. Smith details how to improve pricing orientation by combining the soft behavioral skills that intuitively shape and refine pricing practice with the hard analytic skills that guide and structure pricing strategy. The result is more rational and more profitable pricing—with respect to not only revenue and profitability but also employee productivity and customer satisfaction.
Offering an accessible and actionable model, Getting Price Right is the first book to apply behavioral economics to managerial price setting. It is a must-read for corporate business leaders, thought leaders, and professionals interested in advances in pricing and for managers, entrepreneurs, proprietors, and small and midsize business owners whose everyday work involves pricing.
Gerald Smith is a business professor and chair of the Marketing Department at Boston College in the Carroll School of Management. An award-winning instructor, he teaches strategic pricing management in the BC MBA Program. He is the author of The Opt-Out Effect: Marketing Strategies That Empower Consumers and Win Customer-Driven Brand Loyalty (2016) and editor of Visionary Pricing: Reflections and Advances in Honor of Dan Nimer (2012). Smith has lectured widely in leading executive forums and consulted, researched, and worked with many Fortune 1000 business managers, small and medium businesses, and government entities.
Preface
Part I. Behavioral Economics of Everyday Pricing Decisions
1. Pricing Orientation | Pricing Strategy
2. Framing and Strategic Frames of Reference
3. Psychological Pricing Orientation: Psychological Price-Setting Bias and Skills
4. Social Pricing Orientation: Cultural Price-Setting Bias and Skills
Part II. Behavioral Economics of Cardinal Pricing Orientations
5. Cost-Driven Pricing Orientation Biases and Skills
6. Customer Value–Driven Pricing Orientation Biases and Skills
7. Customer Willingness-to-Pay–Driven Pricing Orientation Biases and Skills
8. Competition-Driven Pricing Orientation Biases and Skills
9. Balanced Pricing Orientations, Profitable Pricing Strategy
Notes
Index
| Erscheinungsdatum | 15.12.2021 |
|---|---|
| Zusatzinfo | 145 figures and tables |
| Verlagsort | New York |
| Sprache | englisch |
| Maße | 152 x 229 mm |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management |
| Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie | |
| ISBN-10 | 0-231-19070-0 / 0231190700 |
| ISBN-13 | 978-0-231-19070-1 / 9780231190701 |
| Zustand | Neuware |
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