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The Strategy and Tactics of Pricing: A Guide to Growing More Profitably Hardcover – April 18, 2016
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From the Back Cover
KEY TOPICS: Strategic Pricing; Value Creation; Price Structure; Price and Value Communication; Pricing Policy; Price Level; Pricing Over the Product Life Cycle; Pricing Strategy Implementation; Costs; Financial Analysis; Competition; Measurement of Price Sensitivity; Ethics and the Law
MARKET: For those interested in learning about market pricing.
Top Customer Reviews
This is techincally a college textbook inteneded for upper level undergraduate or MBA level classes, but it reads like a consumer title. Because it's a textbook, you'll see that it's 5th edition, and revised every couple years. As we all know, textbooks change very little from edition to edition. Save yourself money and buy the previous edition, new or used its about 50% or 75% off the price.
This is a major update of the classic book on strategic pricing, a book that introduced many of us to the field and that taught us how to think about customer value and how it relates to price. In my case, this book also helped me to sharpen my understanding of pricing, segmentation and bundling and changed how I thought about sunk costs and pricing. If I had read this book ten years ago I would be a wealthier person today.
What's New in the Fifth Edition?
A completely new chapter on "Pricing Strategy Implementation" identifies the challenges involved in embedding strategic pricing principles within an organization and describes how managers can lead a structured change process to build a commercial organization more consistently focused on value creation, for the firm and its customers
The revised chapter on "Pricing Policy" provides a theoretically grounded framework to describe specific policies for managing price changes for a variety of situations including raw material cost increases, demand recessions, and new product launches.
The chapter on "Value Creation" for the first time addresses explicitly how to deal with value differently when it is driven by subjective psychological drivers (such as doing the right thing for the environment) rather than by tangible monetary drivers (for example, saves money on fuel).
The chapter on "Value and Price Communication" has been substantially revised to describe how to communicate value in a wide variety of product and customer contexts.Read more ›
I heard about this book via MIT's Open Courseware, where it is used in a grad level class on pricing. As you can imagine, I was intimidated since I'd only ever taken one, basic econ class in college. But I was desperate to learn and this book came highly recommended on just about every forum on pricing I came across.
And you know what? I have been floored by how accessible this book is. All of the concepts are neatly laid out, explained thoroughly and given relate-able business cases so you can understand the concepts and their importance to modern business practice. As a result I actually understand what market baskets are, why product differentiation matters to pricing and I'm starting to grasp how to implement new pricing structures in our ever expanding market. I feel like an actual asset to my team ;-).
I am very happy with this book and would recommend it to anyone who needs to lean about pricing. Totally worth the $50.
It reads like a pricing consultant's training manual.
In his thoroughness I am finding lots of sales aha moments. These are the times when you encountered types of buyer and competitor behaviour, made a decision, learned to regret it, lost $$$$$$ , and over time developed/learned better responses. Nagle describes the theory behind why the better responses worked and how to improve even more . This is a very similar experience I had when first reading Geoffrey Moore. "All the time spent learning through doing when someone had already written this down". Of course had I known much of this sooner I would have been even more of a pain in the ass to my superiors/employers.
There may not be one book that contains everything on pricing, but this one comes extremely close. His generous use of examples pulls tired brains like mine through some of the numeric analysis. I know I will be a much better salesperson from reading this book. I suggest this is a book for CEOs, VPs Sales, Marketing and Finance in any type of company. Thanks Steven Forth for dropping this copy off to me.
Most Recent Customer Reviews
good book. I used it for my pricing class while getting my master's degreePublished 1 month ago by armyminusr
Our ValueScan survey, covering over 200 companies in both consumer and business markets, found that firms developing and effectively executing value-based pricing strategies earn... Read morePublished 7 months ago by Loyd Eskildson
Great book with lots of practical ideas and insights. Strongly recommended!Published 14 months ago by Lynn
By far one of the best books I've ever read and extremely useful for pricing strategies and marketing education.Published 16 months ago by JM
This is the worst text book I have ever had! It is poorly written and hard to follow. I was not the only one in my class that thought this.Published 17 months ago by Elizabeth McGee