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Pricing Strategies

Pricing Strategies
A Marketing Approach


October 2011 | 416 pages | SAGE Publications, Inc

"This book is consistent in its treatment, thorough, correct in scholarship, and well-researched. An impressive achievement given the breadth and complexity of the area."– Randolph E. Bucklin, Peter W. Mullin Professor of Marketing, Anderson School of Management, University of California, Los Angeles

Written by a leading pricing researcher, Pricing Strategies makes this essential aspect of business accessible through a simple unified system for the setting and management of prices. Robert M. Schindler demystifies the math necessary for making effective pricing decisions. His intuitive approach to understanding basic pricing concepts presents mathematical techniques as simply more detailed specifications of these concepts.

Chapter 1. Introduction: Pricing as an Element of the Marketing Mix
Part I – Setting of Initial Prices
Chapter 2. The Starting Point in Setting an Initial Price
Chapter 3. Assessing Value to the Customer
Chapter 4. Basic Pricing Strategies and the Use of Breakeven Analysis
Part II – Modification of Existing Prices
Chapter 5. Development and Use of the Generalized Breakeven Formula
Chapter 6. Predicting Price-Change Response: Economic and Competitive Factors
Chapter 7. Predicting Price-Change Response: Cognitive Factors
Chapter 8. Predicting Price-Change Response: Emotional Factors
Chapter 9. Empirical Measurement of Price-Change Response
Part III – Developing a Price Structure
Chapter 10. The Logic of Price Segmentation
Chapter 11. Time as a Price-Segmentation Fence
Chapter 12. Place as a Price-Segmentation Fence
Chapter 13. Pricing of Interrelated Products
Part IV – Broader Considerations in Pricing
Chapter 14. Interactive Pricing: Auctions and Negotiation
Chapter 15. Law, Ethics, and Social Responsibility in Pricing
Chapter 16. The Role of Price in Marketing Strategy

This book is consistent in its treatment, thorough, correct in scholarship, and well-researched. An impressive achievement given the breadth and complexity of the area.

Randolph E. Bucklin
Peter W. Mullin Professor of Marketing, Anderson School of Management, University of California, Los Angeles

In the marketing perspective, to understand the price, this book is very helpfull for MBA and PhD students.

Mr Mustafa Unsalan
Economics, Nevsehir University
June 12, 2015

The book is concise and provides a comprehensive work on the pricing policy. The best chapter is those with the empirical measurement of price-change response, which is targeted to students who want to deal with a particular aspect of pricing research. Unfortunately, the lack of suitable supplemental of spreadsheet models and/or case studies make the books unsuitable for courses in advanced marketing modeling.

Dr Marusya Smokova
Economics , D. A. Tsenov Academy of Economics
January 3, 2013

Very comprehensive, professional and easy to read textbook. Good for students and practitioners of management as well as financial advisors. The content and samples are very useful for business practice.

Dr Michal Buszko
Economics Faculty, Nicolaus Copernicus University
November 21, 2012

This book is suggested as supplementary for all marketing student who does not like the mathematical formula and calculation. It give you more understandable on price theory and calculation. The example is very useful and logic.

Dr Teerasak Jindabot
Business Administration , Prince of Songkla University
August 22, 2012

The book is well written and covers the areas I consider important. The quantitative elements are well presented and should be easy for my marketing students to follow.

Professor Robert Gerulat
Business Mgmt Economics Dept, Suny Empire State College - Frontier
October 27, 2011
Key features

· Provides a simple, consistent framework, organized around setting initial prices, improving existing prices, considering different prices for different market segments, and considering product interrelations.

· Uses only a small number of mathematical techniques, which are explained intuitively, such as expected value, multiple regression, and a more general form of the familiar business technique of breakeven analysis.

· Considers pricing in the context of customer behavior by extensively reviewing behavioral research to demonstrate that, rather than being a footnote on the limits of rational pricing, psychological factors are central to core pricing questions.

· Places pricing on firm ethical grounds by showing how the management of pricing benefits from a sensitivity to, and continual consideration of, the feelings and needs of customers.

· Connects the wide variety of pricing practices to a small number of key ideas and relies on plain-language terms and examples that, even through our rapidly changing technological environment, are likely to endure.

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