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Confessions of the Pricing Man - How Price Affects Everything (Paperback, 1st ed. 2015)
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Confessions of the Pricing Man - How Price Affects Everything (Paperback, 1st ed. 2015)
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The world's foremost expert on pricing strategy shows how this
mysterious process works and how to maximize value through pricing
to company and customer. In all walks of life, we constantly make
decisions about whether something is worth our money or our time,
or try to convince others to part with their money or their time.
Price is the place where value and money meet. From the global
release of the latest electronic gadget to the bewildering
gyrations of oil futures to markdowns at the bargain store, price
is the most powerful and pervasive economic force in our day-to-day
lives and one of the least understood. The recipe for successful
pricing often sounds like an exotic cocktail, with equal parts
psychology, economics, strategy, tools and incentives stirred up
together, usually with just enough math to sour the taste. That
leads managers to water down the drink with hunches and rules of
thumb, or leave out the parts with which they don't feel
comfortable. While this makes for a sweeter drink, it often lacks
the punch to have an impact on the customer or on the business. It
doesn't have to be that way, though, as Hermann Simon illustrates
through dozens of stories collected over four decades in the
trenches and behind the scenes. A world-renowned speaker on pricing
and a trusted advisor to Fortune 500 executives, Simon's lifelong
journey has taken him from rural farmers' markets, to a
distinguished academic career, to a long second career as an
entrepreneur and management consultant to companies large and small
throughout the world. Along the way, he has learned from Nobel
Prize winners and leading management gurus, and helped countless
managers and executives use pricing as a way to create new markets,
grow their businesses and gain a sustained competitive advantage.
He also learned some tough personal lessons about value, how people
perceive it, and how people profit from it. In this engaging and
practical narrative, Simon leaves nothing out of the pricing
cocktail, but still makes it go down smoothly and leaves you
wanting to learn more and do more-as a consumer or as a business
person. You will never look at pricing the same way again.
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