The Dark Art of Pricing

1. INTRODUCTION: WHY YOU SHOULD READ THIS BOOK AND HOW TO PROFIT FROM IT<br/><br/>Gûí WHY FINDING THE RIGHT PRICE CAN ACCELERATE YOUR PROFITS<br/>Gûí LARGE COMPANIES USE THESE METHODS – YOU CAN, TOO.<br/>Gûí HOW TO GET THE MOST FROM THIS BOOK.<br/><br/><br/><br/>2. HOW YOU CAN IMPROVE PROFITS TODAY<br/><br/>Gûí GUIDELINES ON PRESENTING YOUR PRICE <br/>GÇó Selling best better good.<br/>GÇó Don't have too much choice<br/>GÇó Keep your price to the end <br/>GÇó Make the customer open<br/>GÇó Make the buyer work hard<br/>GÇó Sandwich your price between the benefits<br/>GÇó Try to make your price non-negotiable<br/>GÇó The cost penalties of not buying<br/>GÇó Don't squeeze too hard against the weaknesses<br/>GÇó Let the customer win something.<br/>Gûí WHAT IF YOU INCREASED PRICES - WILL HURT OR HELP<br/>GÇó Guidelines to increasing prices<br/>GÇó The power of pricing – increase sales versus cut costs or increase prices<br/><br/><br/>3. POSITIONING FOR PRICE AND PROFIT– THE ROLE OF THE USP<br/>Gûí Testing your Unique Selling Proposition<br/>Gûí The power of a good USP - examples<br/>Gûí Worksheet to develop a USP<br/><br/><br/>4. VALUE PRICING - HOW TO PRICE ON PURPOSE <br/> <br/>Gûí VALUE PRICING IS GǪ Star Trek. Go where no one has gone before.<br/>Gûí THE BENEFITS OF BEING THE PRICE LEADER<br/>Gûí LEARNING TO LOSE A PERCENTAGE OF YOUR BIDS<br/>Gûí THE LOYALTY GAME - Understanding customer behaviour and perceived value<br/>GÇó Price vs Quality vs Service<br/>Gûí VALUE PRICING AND BRANDING<br/><br/>Gûí THE ROLE OF BRANDING – THE SCOOTER STORY<br/><br/><br/><br/><br/>5. MARKETING AND SALES - WHERE your PRICING decision becomes REALITY<br/>Gûí Captive product: finding value in linked products and services<br/>Gûí Meeting the price objection - sticker shock<br/>Gûí Sales and promotional pricing - having a sale<br/>Gûí Price discrimination <br/>Gûí On customer behaviour.<br/>Gûí Sales Training<br/>Gûí Learning to lose a percentage of sales<br/>Gûí Selling best, better, good<br/>Gûí Using price structure to motivate sales staff<br/>RESPONDING TO A PRICE WAR<br/>6. OTHER PRICING STRATEGIES<br/><br/>Gûí DIFFERENTAL PRICING – the 10 price Strategy<br/>Gûí REFERENCE PRICING - the pool noodle story<br/>Gûí GAIN-LOSS FRAMING AS A PRICING STRATEGY<br/>Gûí NEW PRODUCT INTRODUCTION AND MARKET-SKIMMING<br/><br/>7. MORE PRICING STRATEGIES<br/><br/>Gûí PENETRATION PRICING<br/>Gûí MARGIN PRICING<br/>Gûí DYNAMIC PRICING <br/>Gûí POCKET PRICE BANDING<br/>Gûí BUNDLING AND UNBUNDLING<br/>Gûí THE PRICE WATERALL OR FINDING MORE PROFIT WITHOUT INCREASING PRICES<br/><br/>8. CONVENTIONAL PRICING METHODS AND HOW THEY FAIL<br/>Gûí HOW TO KNOW IF YOUR PRICES ARE RIGHT OR WRONG.<br/>GÇó Do you hate or love your customers?<br/>GÇó You are the price leader or the price follower<br/>GÇó Bids are haphazard or designed to leave no money on the table<br/>GÇó Are you losing or finding new customers faster?<br/>GÇó Your reputation is for high prices OR high prices and quality. <br/><br/>Gûí 5 BUSINESS WRECKERS<br/>GÇó Believing the rumours<br/>GÇó Believing that price is all that buyers use to make a purchasing decision<br/>GÇó Only my labour rate matters<br/>GÇó Stubborn ostriches<br/>GÇó Having no cushion<br/><br/>Gûí PRICING BY FOLLOWING THE CROWD AND HOW THIS LEADS TO MEDIOCRITY<br/>Gûí WAG , SWAG AND STICK ESTIMATING METHODS<br/>Gûí LETTING ACCOUNTANTS RULE – costs, margins and the disaster of Wang Labs<br/>Gûí BEING AFRAID TO CHARGE WHAT YOU ARE WORTH - customer driven pricing and how it holds back the Wisconsin wine industry<br/>Gûí UP-CHARGING FOR SUBCONTRACTORS AND HOW IT CAN SINK YOUR BUSINESS.<br/>Gûí BUYING MARKET SHARE – a loser strategy unless you are Amazon<br/><br/><br/><br/>9. PRICING FOR YOUR COMPANY – BY INDUSTRY<br/><br/>Gûí CONTRACTING – being the go-to guy<br/><br/>Gûí RETAILING <br/>néº captive Product, Apple and Qualcomm<br/>néº sales and promotional pricing - HAVING A SALE <br/>néº price discrimination<br/>néº bad customers drive out good customers<br/>néº on keeping customers<br/>néº learning to lose a percentage of sales<br/>néº the winner's curse<br/>néº selling best, better, good<br/>néº using the price structure to motivate sales staff<br/>GÇó responding to a price war<br/>GÇó when to have a sale<br/><br/>Gûí MANUFACTURING<br/>néº the cost of herbies<br/>néº influence of capacity utilization <br/>néº engineering and economic measures<br/>néº output gap measure<br/>Gûí CONSULTING<br/>Gûí SERVICE BUSINESSES<br/>Gûí WORKING WITH PROFESSIONAL BUYERS<br/>Gûí DISTRIBUTION<br/>Gûí PROPORTIONAL PRICE EVALUATIONS<br/><br/><br/>10. START TODAY – How to remake your company into a price and profit leader.<br/><br/>Gûí REAP THE BENEFITS OF LEARNING TO SELL YOUR PRICE<br/>Gûí SPEND TIME DEVELOPING YOUR USP AND BRANDING<br/>Gûí PAY OBSESSIVE ATTENTION TO CUSTOMER SERVICE AND QUALITY<br/>Gûí DEVELOP A SYSTEM TO REVIEW YOUR PRICES AND APPROACH ANNUALLY.<br/>Gûí CUT YOUR PRICE WATERFALL COSTS<br/>Gûí BUILD, TRACK AND ANALYZE YOUR DATA. Walmart does it, why not you?<br/><br/>11. UNDERSTANDING PRICING STRATEGY: METHODOLOGY, CONCLUSIONS AND SUMMARY <br/><br/>12. WORKBOOKS <br/><br/>13. CASE STUDIES<br/><br/>Gûí POCKET PRICE BANDING AND CASTLE BATTERY <br/>Gûí TRUCKING COMPANY TURNAROUND AND THE ROLE OF PRICING