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Mohammed's breezy, informal account of a range of pricing strategies takes as its starting point the realization that different "customers place different values on the same products." With this in mind, Mohammed (Internet Marketing) recommends a variety of strategies that will attract customers with different product evaluations and yield different profit margins. With emphasis on familiar consumer practices like quantity discounting, early-bird discounts and mixed bundling, Mohammed describes, for example, setting a high initial price to capture extra profits from early adopters, then reducing prices to attract other customers. Alternately, he notes, music and book stores "often take a contrary pricing approach" and give lower prices to their first customers. Mohammed writes clearly but does not offer enough direction on when to choose one strategy over its opposite. Though the book targets anyone who sets prices, including managers, it focuses narrowly on price discrimination without an analysis of the integration of pricing into general marketing or strategy. Nor does Mohammed cover how to estimate the cost and demand factors necessary to evaluate different price schemes. The book is too basic for experienced marketing professionals, but novices interested in price discrimination will find this an easy-to-understand introduction. (Oct. 18)
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.
“Rafi Mohammed is the ‘da Vinci’ of pricing!”
“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.
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 2 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