The business world recognises the power of pricing. Management cadre, at all levels, realises that even a 1 percent difference in pricing can have a dramatic impact on profits. They are familiar with the fact that sharpening focus on pricing decisions may increase its profitability by as much as 25-60%. However, it is not so easy to reap the benefits of strategic pricing decisions. The book explores the silhouette of pricing decisions through collection of scholarly articles. It is difficult to hold in mind all the variables that affect pricing decisions. However, it is crystal clear that these external as well as internal factors drive pricing decisions. They monitor the changes in price throughout the lifecycle of a product – from development to launch through any upgrades and finally, to the product’s obsolescence or replacement. The articles throw light on various pricing dilemmas such as finding new answers to the pricing question, pricing innovative products, pricing software products and how low should you go. The book also reflects on various pricing approaches such as Access Pricing and value-based pricing, and emphasizes putting an end to ad hoc pricing. Articles dealing with diverse angles such as How to Regain Your Marketplace Power by Investing in Pricing Strategy, Structure and Systems; Price-Setting Behaviour of Canadian Companies; The Neglected Art of Strategic Pricing and Price as a Strategic Business Tool provide valuable insights as to how strategic management of pricing and related issues lock erosion of profits. It familiarises readers with price wars as an effective business strategy, various pricing strategies and provides valuable learning on strategies adopted in the company specific case studies to manage pricing dilemmas.
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