My name is Adam Juda, and I'm a pricer.
It all started innocently enough.
When I was five years old, I found myself inside a convenience store. Staring wide-eyed into a refrigerated case of sodas, I made a discovery that would change my life forever: one brand's offering cost a lot more than the others.
The world no longer made any sense. Each bottle was the same size and filled with the same types of ingredients. What gave anyone the right to charge so much more for some items than for others?
As I grew older, pricing questions continued to burrow their way into my young and impressionable mind.
- Why did some firms bundle products together while others allowed shoppers to select each item separately?
- Why did some shops charge more for ripped jeans than they did for alternatives in pristine condition?
- Why did some stores send out coupons instead of just lowering their prices?
Years turned into decades, as I suffered through the painful agony of confusion.
I turned to others in a desperate search for answers: first to my parents, then to my professors of economics, and finally to business owners themselves.
No one could explain where prices came from or how they should be set to guarantee maximum profits.
I was forced to conduct research on my own. As I peeled back layer upon layer of mystery, the secret knowledge of pricing strategy became known to me. Many of the lessons found their way into my book Premium, others found their homes within the hundreds of articles on this very site, and many more were delegated to discussions conducted in hushed tones.
The path to mastering pricing was difficult and filled with frustration and missteps. Nevertheless, it yielded untold riches.
Pricing isn't a tool to be wielded without the benefit of focus and experience. It is simultaneously one of the most powerful tools in a company's strategic arsenal, and also one of the most dangerous. Small, seemingly insignificant changes to a firm's pricing strategy can yield massive shifts in terms of profitability and strategic position.
Now I'm on a mission to use my rare and hard-won knowledge of pricing to help companies grow and thrive.
If you have pricing questions, I have the answers.