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    Smart Pricing (Review and Analysis of Raju and Zhang's Book)
    Smart Pricing (Review and Analysis of Raju and Zhang's Book)
    Smart Pricing (Review and Analysis of Raju and Zhang's Book)
    Ebook42 pages27 minutes

    Smart Pricing (Review and Analysis of Raju and Zhang's Book)

    By BusinessNews Publishing

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    About this ebook

    The must-read summary of Jagmohan Raju and W. John Zhang's book: "Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability".

    This complete summary of the ideas from Jagmohan Raju and W. John Zhang's book "Smart Pricing" demonstrates that many companies fail to establish a deliberate pricing strategy. In fact, many managers rarely give pricing much thought at all. In their book, the authors explain that this is a huge mistake as pricing offers an opportunity to move ahead. This summary provides readers with an insight into the possibilities of different pricing strategies and how some of the biggest companies have used them to push their companies forward.

    Added-value of this summary:
    • Save time
    • Understand key concepts
    • Expand your business knowledge

    To learn more, read "Smart Pricing" and discover the key to establishing innovative pricing strategies that create value and capture customers.
    LanguageEnglish
    PublisherBusiness Book Summaries
    Release dateOct 28, 2014
    ISBN9782511019856
    Smart Pricing (Review and Analysis of Raju and Zhang's Book)

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      Book preview

      Smart Pricing (Review and Analysis of Raju and Zhang's Book) - BusinessNews Publishing

      Book Presentation: Smart Pricing by

      Jagmohan Raju and Z. John Zhang

      Book Abstract

      About the Author

      Important Note About This Ebook

      Summary of Smart Pricing

      (Jagmohan Raju and Z. John Zhang)

      1. Price – the forgotten business lever

      2. Nine innovative pricing strategies

      3. How to use these mechanisms to maximum effect

      Book Abstract

      MAIN IDEA

      It’s amazing how many companies fail to have a deliberate pricing strategy – even though this is an absolutely critical and fundamental business element. In fact, many managers rarely give pricing much serious thought at all.

      This is unfortunate because pricing offers great opportunities to move ahead for those who are astute and nimble. Instead of pricing your products or services using simplistic methods like cost-plus, match-your-competitors or figure out what people will pay and go with that as a price, there is a rich variety of other pricing strategies to try. For example, you might:

      Figure out how to make money other ways by providing your product or service for free.

      Allow your customers to name their own price - pay whatever they think your product or service is worth.

      Build automatic price markdowns into your pricing model - so you can serve customers at both ends of the spectrum.

      Set up subscription plans which allow people to save - even for items like their weekly grocery shop.

      Develop performance-based pricing systems - where people pay only if what you have to offer works.

      "Getting the price right is, in the end, both art and science. Like most business practices, the best pricing decision is grounded not only in theory, but experience and instinct. Ultimately, smart pricing demands not only deep customer knowledge and good economic intuition, but a healthy dose of street smarts. Our experience has taught us that pulling the price lever demands courage and confidence, the kind best built on your knowledge about what pricing can do, how you can price your goods and services, and how consumers

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