Franklin

Pricing with Confidence : 10 Ways to Stop Leaving Money on the Table.

Author/Creator:
Burton, Mark R.
Publication:
Hoboken : John Wiley & Sons, Incorporated, 2008.
Format/Description:
Book
1 online resource (242 pages)
Edition:
1st ed.
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Other records:
Subjects:
Pricing.
Service industries -- Prices.
Form/Genre:
Electronic books.
Summary:
Bad pricing is a great way to destroy your company's value, revenue, and profits. With ten simple rules, this book shows you how to deliver both healthy profit margins and robust revenue growth while kicking the dreaded discounting habit. The authors destroy the conventional wisdom that you have to trade margins for revenues and show you how to fully exploit the value your company offers customers. This is a proven plan for increasing sales without sacrificing profits.
Contents:
Intro
PRICING WITH CONFIDENCE: 10 WAYS TO STOP LEAVING MONEY ON THE TABLE
CONTENTS
ACKNOWLEDGMENTS
INTRODUCTION: WHY PRICING IS SO HARD AND WHY MOST COMPANIES MESS IT UP
You're the Salesperson
10 Rules of Engagement
Rule One: Replace the Discounting Habit with a Little Arrogance
Rule Two: Understand the Value You Offer to Your Customer
Rule Three: Apply One of Three Simple Pricing Strategies
Rule Four: Play Better Poker with Customers
Rule Five: Price to Increase Profits
Rule Six: Add New Products and Services that Give You Negotiating Flexibility and Growth
Rule Seven: Force Your Competitor to React to Your Pricing
Rule Eight: Build Your Selling Backbone
Rule Nine: Take Simple Steps to Move from Cost-Plus to Value-Based Pricing
Rule Ten: Price with Confidence: Remember Who You Are
What Is Your Pricing Purpose?
Yes, but We Need to Meet the Numbers
Cycles of Desperation
The White Horse Syndrome
A Fool's Game
Do You Understand Your Value?
Price versus Value Focus
Don't Bomb Your Competitors Back to the Stone Age
Tough Sales Negotiations
The Customer Is Not Always Right
Rule One: Replace the Discounting Habit with a Little Arrogance
If You Don't Think You Can Control Price Discounting, You're Right
Who Gets and Gives Price Discounts?
Be Willing to Fire Unprofitable Customers
How Effective Are Your Price Discounts?
Control Discounting with Rules of Engagement
Notes
Rule Two: Understand the Value You Offer to Your Customer
Winning the Pricing Game
The One Definition of Value that Matters Most
Adopting a Value Mindset
Why Talk to Customers about Value?
Customers Want to Talk about Value
How Does the Customer Get Financial Value from the Use of the Offering?
Overview of the Process
Preparing for and Conducting the Interview.
What to Do with the Results of Your Conversations
Creating High-Impact Value Propositions and Sales Tools
Better Value Propositions and Customer Targeting
Rule Three: Apply One of Three Simple Pricing Strategies
The Three Basic Pricing Strategies
Skim Pricing
Neutral Pricing
Penetration Pricing
How to Choose a Pricing Strategy
The Role of Value in Pricing Strategy
Pricing through the Product Life Cycle
Introductory Markets
Growth Markets
Mature Markets
Declining Markets
Be Prepared to Change
Pricing Strategy for Capital-Intensive Businesses
Pricing Strategy for Businesses with High Up-Front Costs
The Competitive Landscape and Pricing Strategy Options
Final Thoughts: Be Prepared to Change Your Strategy
Notes
Rule Four: Play Better Poker with Customers
Price Buyers
Value Buyers
Relationship Buyers
Poker-Playing Buyers
How to Identify a Customer's Behavior
Watch for Customers Who Behave as Price Buyers
Purchasing Agent Tricks to Get You to Cut Your Price
How to Respond to Each Behavior
The Importance of Trust
Play Better Poker
Services Are Not a Commodity
Notes
Rule Five: Price to Increase Profits
Move from a Revenue to a Profit Focus
Efficiency First
The Cost of Average Costing
Price Like the Airlines- Almost
Dumbbell Pricing
Using Price to Control Utilization
Rule Six: Add New Products and Services that Give You Negotiating Flexibility and Growth
The Problem with Using Pricing to Drive Growth
Innovate for Growth, Price for Profits
The Basics of a Good Offering Structure
Core Offerings
Expected Offerings
Value-Added Options
The Critical Role of Services and Solutions
Developing Services and Solutions to Create Pricing Leverage
Why Good Fences Make Good Neighbors
The Final Piece: Bundling.
The Nuts and Bolts of Bundling
Don't Bungle the Bundle!
Final Thoughts
Notes
Rule Seven: Force Your Competitor to React to Your Pricing
The Problem of Market Elasticity
A Pricer's Dilemma: Learning the Pain of Decreasing Price in a Mature Market
Developing a Competitive Information System
Take the Six Steps
Step 1. Improve Understanding of the Environment
Step 2. Determine Pricing Strategy
Step 3. Develop Communications Policy
Step 4. Determine What to Say
Step 5. Determine What to Do
Step 6. Monitor Results and Improve the System
Building the Global Chessboard
Rule Eight: Build Your Selling Backbone
It's Easy for You to Say
The Selling Problem
Prepare for Tough Negotiations
Step 1: Conduct Value Analysis
Step 2: Conduct Buying Center Analysis
Step 3: Evaluate the Likely Buying Behavior
Step 4: Determine Your Coverage Strategy
Step 5: Offering Development
Step 6: Develop the Primary Negotiating Approach
Step 7: Determine the Expected Customer Response
Step 8: Develop a Secondary Negotiating Strategy
What about RFPs?
Notes
Rule Nine: Take Simple Steps to Move from Cost-Plus to Value-Based Pricing
The Ultimate Objective
The Two Levels of Pricing
The Pricing Maturity Model
Criteria for a Confidence-Building Pricing Process
A Coherent Pricing Strategy
Repeatability
Visibility
Scalability
Process
People
Technology
Accountability
Standardization
Final Thoughts
Rule Ten: Price with Confidence: Remember Who You Are
Support the Value Leader
A Process of Discovery
Sales' Role in Customer Value
Why Most Companies Fail
Go on a Value Hunt
Confidence in Value Breeds Confidence in Pricing
Notes
INDEX.
Notes:
Description based on publisher supplied metadata and other sources.
Contributor:
Holden, Reed K.
Other format:
Print version: Burton, Mark R. Pricing with Confidence
ISBN:
9780470259238
9780470197578
OCLC:
608622527