Power Pricing: How Managing Price Transforms the Bottom Line
Basic texts on marketing often refer to the "fourP's" of the marketing mix: product, place, promotion, and price. In popular marketing literature, the importance of setting the "right" price is usually acknowledged, but little advice is given on how to determine that price. Harvard business professor Dolan is author ofManaging the New Product Development Process(1993), and Simon is the German business consultant who wroteHidden Champions: Lessons from 500 of the World's Best Unknown Companies(1996). Both have written numerous journal articles about price strategy. Here they team up to explain current pricing concepts and trends. They cover the mathematical foundations and relationships of price, cost, and profit and follow with discussions of international, nonlinear, and product pricing and price customization and bundling. They also consider the role of organizational and managerial structures on price setting. Although some of the information provided in this book will be of use to small businesses, its primary audience is managers in large organizations and students in business programs.David Rouse