The Strategy and Tactics of Pricing

Thomas T Nagle , Georg Müller

The Strategy and Tactics of Pricing

28min

28min

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What are the secrets to building the perfect price? Thomas T. Nagle, Jeorg Müller and Joseph Zale answer this question with an in-depth analysis of the entire process used to strategically price products and services, from the understanding of the concept of monetary and psychological value to the segmentation of the public, right down to the management of the competition. The Strategy and Tactics of Pricing: a Guide to Growing More Profitably is a manual brimming with a wealth of information and methods to help get to grips with pricing, making it your ‘go-to’ tool, worthy of serving a company’s profits.

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Analysis and key concepts

01.

Strategic pricing is an integral part of a company’s success and profit

02.

The economic and psychological value of products and services is the key to a successful pricing strategy

03.

Measurement of value can be helped by the six phases of market segmentation

04.

The right communication of value helps to create more profitable prices

05.

Correct communication of value must take the customer’s involvement and price sensitivity into account

06.

Different solutions for pricing metrics can be used to create segmented pricing

07.

Policies to manage price fluctuations are one of the secrets of successful pricing strategies

08.

The determination of price and announcing its changes

09.

The importance of competitive advantage and the management of price competition

10.

Quotes

11.

Take-home message

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Many useful tips to:

  • Put a profitable and effective pricing strategy in place.
  • Discover the economic and psychological mechanisms that control our perception of price.
  • Manage competition and price fluctuations in an organised manner.

A senior pricing and profitability management consultant for the US division of Deloitte Consulting, Thomas T. Nagle has been an expert in strategic pricing and profit growth for thirty years. Today he divides his time between his professional work and working as a speaker and trainer. His book The Strategy and Tactics of Pricing: a Guide to Growing More Profitably, now in its fifth edition, has been enormously successful.

Manager of Executive of Strategic Pricing at the University Of Chicago Booth School Of Business, Georg Müller is a profit improvement expert for companies in various industries. Today he is CEO of Pricing and Profitability Management at Deloitte Consulting, USA, and co-wrote the fifth edition of Thomas T. Nagle's book, The Strategy and Tactics of Pricing: a Guide to Growing More Profitably.

Publishing house:

Routledge

Year:

2017

Pages:

352

ISBN:

978-1138737518