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Confessions of the Pricing Man
236 pages, 2015
The Truth About Pricing is the essential guide to the most complex and important business decision of all: setting a price. Whether you are in business, government, or not-for-profit, every day you make decisions about whether something is worth your money or time.
The truth about pricing is that it s more an art than a science—and more than just a matter of dollars and cents.
From the global release of the latest electronic gadget to the bewildering gyrations of oil futures—from big decisions such as new product development to small ones such as slicing bread at the deli counter—pricing is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood.
In Confessions of the Pricing Man, Hermann Simon explores the importance of pricing in business. He emphasizes that pricing isn't just about numbers, it's a strategic tool that can significantly impact a company's success. So, take a look at your pricing strategy, it might be more important than you think.
Simon digs into the concept of value-based pricing. He suggests that prices should reflect the value a product or service provides to the customer, not just the cost of production. This approach can lead to higher profits and happier customers. It's definitely worth checking out.
Did you know that psychology plays a big role in pricing? Simon reveals how understanding customer behavior and perception can help set effective prices. So, don't just see pricing as a numbers game, consider the psychological aspects too.
Simon researches the concept of 'pricing power' - the ability to raise prices without losing customers. He shows how companies with strong pricing power can increase profits and gain a competitive edge. So, take a look at your pricing power, it could be a game-changer.
In Confessions of the Pricing Man, Simon also explores the impact of globalization on pricing. He explains how international markets, competition, and customers can influence pricing strategies. So, if you're operating in a global market, this is a must-read.
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Hermann Simon's book is a masterclass in understanding the importance of pricing strategies. It's a must-read for anyone in business.
Philip Kotler - Marketing GuruSimon's book is a treasure trove of insights into pricing. It's a game-changer for businesses.
Tom Nagle - Pricing StrategistSimon's book is a powerful guide to understanding the psychology of pricing. It's a must-have for any marketer.
Robert Cialdini - Psychology ProfessorSimon's book is a deep dive into the world of pricing. It's a valuable resource for anyone in business.
Daniel Kahneman - Nobel LaureateSimon's book is a comprehensive guide to pricing. It's a must-read for any business leader.
Roger Martin - Business ThinkerRecommendations
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