Setting Profitable Prices: A Step-by-Step Guide to Pricing Strategy--Without Hiring a Consultant

  • 2h 46m
  • Marlene Jensen
  • John Wiley & Sons (US)
  • 2013

Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time-consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you're like most small- to medium-sized business owners and managers, time and money are two things you absolutely don't have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing that you'll never again leave money on the table when determining prices. And you'll spend the least possible time setting your more profitable prices.

  • Packed with valuable worksheets and other valuable tools to help guide your research and your pricing decision-making
  • A goldmine of expert tips for pricing in any specialty market, it offers a highly effective way to market your company's product more effectively and profitably
  • Shows you how to avoid making your competitors' pricing mistakes and gain a powerful competitive edge in the process
  • The author uses examples drawn from her years of consulting work with companies large and small, including Food Network, American Express Publishing, and Playboy

About the Author

Dr. MARLENE JENSEN is a pricing strategy and marketing/new business expert. Her decades of consulting work with companies, large and small–including the Food Network, American Express Publishing, and Playboy–are consolidated in this powerful book/website combo. In addition to consulting, Dr. Jensen has performed pricing tests for companies such as CBS Publishing, her own launches (Sportswoman magazine, Ancillary Profits and Media Marketing newsletters, and Jensen-Fann Publishers) and in numerous academic research studies. Dr. Jensen has taught marketing and pricing at Western Connecticut State University, and currently at Lock Haven University.

In this Book

  • Why Pricing Is the Key to Your Success
  • Why Most Companies Stink at Pricing (and How You Can Do Better!)
  • Analyzing Your Competitors' Prices
  • Environmental Factors That Can Affect Your Pricing
  • Pick the Positioning of Your New Product
  • Analyzing Your Buyer Benefits/Drawbacks Relative to Your Competitors
  • Picking a "Ballpark" for Your Best Price
  • Evaluating Your Costs
  • Is Your Profit Potential Acceptable?
  • Psychological Adjustments to Your Price
  • Testing Prices
  • Using Google to Test Prices for Free (or Almost Free)
  • Pricing Services
  • Pricing New Products/Services, Part 1—When Your Brand Is Unknown
  • Pricing New Products/Services, Part 2—Competing with Established Brands
  • Pricing with Discounts