on July 2, 2004
Berends book confirms that there is no simple "one size fits all" pricing strategy. His book starts with an overview of the principles of supply and demand and then goes on to explain how various market forces impact pricing decisions. Using layman's terms, Berends draws on his personal experience and industry knowledge to help readers develop an appropriate pricing strategy for their product. He then provides some useful negotiation strategies and cost/profit forecasting techniques. I recently used this book to assist me in making pricing recommendations for a term paper I was preparing for my MBA Advanced Marketing course. Berends research on comparative industry profit margins was eye-opening and provided a good first step to help me begin to develop recommendations on customized pricing strategies.