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The Art of Pricing: How to Find the Hidden Profits to Grow Your Business Hardcover – Bargain Price, October 11, 2005
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From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
“A lighthearted, anecdotal, but theoretically sophisticated primer on pricing, highly personal and readable, with abundant illustrations.” —Alfred E. Kahn, Robert Julius Thorne Professor of Political Economy, Emeritus, at Cornell University, and former chairman of the Civil Aeronautics Board
“Rafi Mohammed provides a win-win pricing solution for both businesses and consumers. The pricing strategies that he advocates help companies rightfully profit from their entrepreneurial activities and, just as important, benefit customers by offering a variety of purchasing options. The Art of Pricing is a “must read” for every manager; it will help you better serve your customers as well as make you more money.” —Irving Azoff, CEO, Frontline Management
“In a thoroughly engaging manner, Rafi Mohammed describes how relatively simple changes in price can unleash tremendous profit potential in virtually any company. This book is richly illustrated with stories that show how pricing is as much disciplined science as art, and that the masters of this discipline can reap profit while delighting consumers. Rafi Mohammed is the ‘da Vinci’ of pricing!” —Robert G. Cross, chairman and CEO of Revenue Analytics and author of Revenue Management
“Companies big and small struggle to appropriately price products and services. Rafi Mohammed provides a road map for relatively uncharted territory. With an engaging style and numerous real-life examples, Rafi makes a tough subject accessible.” —Heather J. Myers, senior vice president, Strategic Planning and Business Development, Scholastic
“Rafi Mohammed’s pricing strategy has broad application, creating a new call-to-arms for businesses. Diverse corporate segments from consumer products to entertainment can benefit from Mohammed’s approach and extract new value from their products.” —John Mass, executive vice president, William Morris Agency --This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
First, the good thing about the book: it is very easy to read because it is written in plain, simple English. I applaud the author for that because so many books and articles are just very poorly written
Now some critiques:
1) The author presents ideas about pricing, which are very basic and which we already know -- like, price discounts for volume purchases or the fact that prices per unit (oz, lb, etc.) are lower for large sizes than for small sizes.
2) The author says, bundling products (e.g. selling two books, together) can increase profits for the seller, if s/he has multiple items to sell or can bundle her product with some other product. Amazon offers bundle prices, for example, if you buy more than one book in one order.
I think most people pretty much know these simple pricing strategies from years of shopping experience.
3) The author is a phony (pardon my language) because he did not apply a single strategy for his own book. Even though he has written two books and could have bundled with other books of the same topic or on topics that would interest the readers -- for example, there are hundreds of books on marketing strategies that could have been bundled with the his own book -- The Art of Pricing.
4) I was amazed at the author's claim that prices that end with 00 (like $30.00) are supposed to suggest to potential buyers that the product is of higher value than product prices that end with 99 or 95 (like, 29.99 or 24.95). If that is true, why would any sensible product manager choose a price that ends with 99 or 95? Yet, thousands of well-known brands choose prices ending with 99 or 95.Read more ›
The book is full of fun examples and is a quick read.
If there is any book you want to read about pricing strategies, this is the book.
So many different pricing strategy's to go over, it will make light bulbs go off and make you say ' Why did I not think of that'?
Read the book, make more money, brilliant!
Most Recent Customer Reviews
When I bought this book I expected to read a book about pricing techniques. Nothing, only 200 pages of tales and well known theoretical concepts like Price Discrimination. Come on! Read morePublished 7 months ago by Daniel
This book is great for individuals and businesses that are new to pricing. The book is to-the-point, practical, and provides good examples. Read morePublished on November 6, 2012 by Romeo Richards
I'm in the process of starting a new business and was having a lot of difficulty with setting a price. So I started reading buying books about pricing....six in total. Read morePublished on August 20, 2012 by C. Hannah
My mistake to buy the book before checking the five star reviews.
Of all the five star reviews, only 4 have at least two other product reveiews, the rest only review this book... Read more