Description
In Smart Pricing, Wharton professors and renowned pricing experts Jagmohan Raju and John Zhang offer a powerful alternative to traditional pricing models. The authors focusing on a new set of influencers in pricing strategy: consumer psychology, economics, and marketing. To do so, they draw on their own breakthrough pricing research, as well as their most recent work helping enterprises rethink their approaches to pricing. Raju and Zhang make pricing more tangible and concrete by revealing innovative strategies that are helping companies create and capture more value and more new customers. Readers will discover restaurants where customers set the price… how Google and other high-tech companies have used pricing to remake whole industries… how executives in China have made an art of initiating and fighting price wars, in spite of the conventional Western wisdom that price wars are risky. Replete with examples from contemporary business, this book heralds a revolution in how companies establish pricing and measure its effectiveness. About the Authors xi Introduction Fingerprints of the Invisible Hand 1 Chapter 1 “Pay As You Wish” Pricing 19 Chapter 2 Why the Best Things in Life Are Free 41 Chapter 3 The Art of Price Wars 59 Chapter 4 Thinking Small 79 Chapter 5 The Automatic Markdown 101 Chapter 6 Name Your Own Price 119 Chapter 7 Subscribe and Save: Pricing for Marketing Profitability 139 Chapter 8 The Snob Premium 161 Chapter 9 Pay if it Works 181 Chapter 10 Conclusion 201 Index 207
