Strategic Pricing: The Novel
What is strategic pricing?
As a business owner, you are up against a constant flow of change in your marketplace.
- Sometimes you're in a position of strength, with an army of customers beating down your door, demanding to buy your offerings.
- Sometimes you'll find yourself in a position of weakness, with customers disinterested or even hostile to your offerings.
Strategic pricing is a powerful tool that you can use to ensure that your company not only survives, but thrives, when shifts in customer demand and perception occur.
Why is strategic pricing important?
The truth is that even a mediocre sales team can sell just about anything - as long as it's priced correctly. If raising and lowering the numbers on the price tag were all that was required to succeed in business, pricing would be easy. It would just be a matter of making numbers larger or smaller.
Unfortunately, the world of pricing is far more complex.
Strategic pricing involves more than just picking the right number. It requires a variety of decisions including how offers are targeted, presented, and packaged.
How do so many get strategic pricing so wrong?
Even well-funded businesses with long histories of success fail to price their offerings appropriately.
The truth is that very few people understand pricing - even at its most fundamental levels. Sure, people may say they understand it. They may even think they understand it, and who can blame them? Business leaders, accounting professors, and even economics know-it-alls have spent decades providing little, if any, insight into how pricing works. Pricing is considered a dark art that's too strange, too mysterious, and far too messy for a bunch of academics and thought leaders to explain or worry about. Pricing, by its nature, is a cross-disciplinary field that straddles too many areas of expertise to neatly fit within any single academic focus.
As a result, business owners and pundits are rarely provided the tools that they need to make sensible pricing decisions. Instead, they're left to make do with a variety of outdated and even harmful methods like that are more akin to superstition and and more reliant upon luck than they could possibly imagine.
This lack of understanding causes countless failures as well as unbounded opportunities for success. Those who acquire insights into pricing strategy are conferred with an unimaginable competitive advantage over their competitors who are flying by the seat of their pants.
The biggest secret in pricing
The biggest secret is that pricing can be used to achieve corporate goals. Even many successful managers see pricing only as a lever for increasing profits. They are only seeing part of the picture. Pricing is also a means for achieving strategic goals. Sometimes those goals revolve around increasing profits, but sometimes other outcomes are far more important. Does your firm need to grow its customer base, change its customers' perceptions, enter a new market, or manage its inventory levels? Strategic pricing can help streamline the process and eliminate many sources of failure.
Introducing Strategic Pricing: The Novel
This a novel, complete with a kidnapping, government corruption and even a chance for human redemption.
Follow along as a trained economist takes control of a failing mall.
- Learn how to analyze real world problems as he meets with owners of troubled stores.
- Ooh and aah at his genius as he recommends tweaks to the business' failed pricing models.
- Smile as you realize that you can apply his pricing strategies to your own firm.
All too often, desperate business owners believe that the answers to every problem are longer hours and more effort. It just isn't true. The best answer is often to apply strategic pricing. That said, the proper pricing strategy must be selected with great care. Different methods are required in different situations.
This book is based upon the experiences of real life economist Adam Juda, owner of a consultancy focused on pricing and monetization strategies for businesses. It's a conceptual tour of the world of pricing. You'll not only see concepts presented, but learn to recognize specific situations for which each makes the most sense.
No math required!
Buy a copy of strategic pricing today!
