Practical Guide to Understanding Your Pricing Options (Paperback)
Price Your Product or Service for Strategic Objectives
Pricing is one of the most unsung elements of marketing. Practical Guide to Understanding Your Pricing Options teaches the reader how to price their products or services strategically. By implementing the suggestion in this book you will be able to price your products and services so as to encourage your customers to buy while maximizing your profit margins.
The books is broken into 3 parts. In the first part, Pricing Strategies, the author describes 14 pricing strategies to drive specific customer behaviors, such as building customer loyalty, ensuring more consistent business cash flows, or encouraging the customer to buy in larger quantities Part two, Pricing Concepts looks at such concepts as price elasticity and pricing at the margins so a business has the tools to maximize its profit margins. The final part, Behavioral Economics introduces the reader to customer psychology such as their irrational yet predictable reaction to free, decoy prices, and fear of loss.
Practical Guide to Understanding Your Pricing Options is a concise and easy to read guide packed with solid advice that will help the reader implement the appropriate pricing strategies to achieve specific business objectives.