AM I PRICING RIGHT? Every business owner is haunted by this question. Expert pricing strategist Mark Stiving draws upon more than 15 years of experience in profitable pricing and delivers a practical plan to help you confidently answer this fundamental question. Price—it’s most powerful marketing tool you have— and the least understood. Zeroing in on the areas where your efforts will generate the greatest impact, Stiving breaks down critical pricing concepts and provides the blueprint to integrate proven pricing strategies into your growth plans. Be empowered to strengthen your pricing structure to withstand any conditions, dramatically elevating your company performance, position, and profits for long-term success. Learn how
I am the pricing strategist in my company and I am glad to recognize many situations recorded in this book in my real profesional life.
The way the concepts and ideas are described helped me to open my mind to a higher level of strategy, that in my company - multinational that attend a whole continent - has given us very nice results.
Today we have improved dramatically our profitability and our product mix. We have increase the quantity sold and total revenue, which let us to increase our brand value investment and customer loyalty.
The book is full of information, however it talks about price point and not pricing, the former is only one part of the pricing system. The author writing style wasn't quite encouraging. I personally didn't appreciate the too many personal examples within the book, and redundancy and repeated examples could drive the reader away from the point discussed. Furthermore the book has an overwhelming amount of quotes that can distract the reader. I still have a lot to do with applying the learned information on ; but it is a kind of a bigger-picture book on price point rather than a blueprint for driving profits of pricing.
"Pricing is not a sustainable competitive advantage" (11).
"The concept is simple: Charge what the customers are willing to pay. The implementation and internalization are not as easy" (22).
"The amount they're willing to pay is based on your competitor's price and the value of product differences. This is the essence of value-based pricing. You create real value by improving your products and services relative to your competition. You create real value when you add a new benefit, when you improve quality, when customer service smiles more often, when you lengthen your warranty" (29).
"Customers don't buy real value, they buy perceived value" (29).
"In Good, Better, Best offerings, customers who are uncertain buy Better"(113).