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The Strategy and Tactics of Pricing: A Guide to Growing More Profitably (4th Edition) (Pie) (Hardcover)
by Thomas T. Nagle, John Hogan
Category:
Pricing, Product management, Marketing, Sales management |
Market price: ¥ 725.00
MSL price:
¥ 618.00
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Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
Good for Gifts
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MSL Pointer Review:
One of those rare business books which is both academically sound and extremely practical, this book is the best pricing book hands down. |
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Author: Thomas T. Nagle, John Hogan
Publisher: Prentice Hall; 4 edition
Pub. in: December, 2005
ISBN: 0131856774
Pages: 368
Measurements: 9 x 6 x 0.8 inches
Origin of product: USA
Order code: BA01079
Other information: ISBN-13: 978-0131856776
Language: American English
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- Awards & Credential -
One of the our highly recommended pricing books to the marketing and sales professionals. |
- MSL Picks -
This book is a superb guide to pricing as business strategy.
For anyone involved in business this book gives very practical advice on not only the methodology for pricing new products but also changing the strategy of one's existing pricing policy.
Look for a sustainable competitive advantage, maximise contribution margin, concentrate on value and profitability and then market share will follow are some of the key philosophies contained in the text. Concerning the value of this book, it is worth the price alone just for the chapter on costings and formula for calculating what level of sales a company can afford to lose/must gain after a price increase/decrease in order to break even.
A common complaint about business books is that they are all OK in theeory but contain little in the way of explanations of how to implement - this book however offers not only theory and case study examples but also practical instructions on what needs to be done to improve pricing strategy. Overall very, very impressive and a must read for anyone involved in finance, sales or marketing functions. As someone has already said these guys really know their stuff and it works!
The Strategy and Tactics of Pricing 4th edition:
A Guide to Profitable Decision Making by Thomas T. Nagle and John E. Hogan "The Bible of Pricing," provides a comprehensive overview of pricing strategy in an easy to read, pragmatic style.Chapters include:
1. Tactical Pricing (4) 2. Pricing Strategy (6) 3. Value Creation 4. Price Structure 5. Price/Value Communication (8) 6. Pricing Policy (8) 7. Price Level 8. Costs (2) (6) 9. Financial Analysis (3) 10. Competition (12) 11. Pricing in Distribution Channels (11) 12. Pricing Over Product Lifecycle (7) 13. Price/Value Measurement (13) 14. Ethics and the Law (14)
(From quoting A. Pickering, Turkey)
Target readers:
All marketing managers, sales managers and business owners, and MBAs.
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Originally from Dublin Ireland, Thomas has had a strong connection with spirit and his sense of intuition since early childhood. He spent long periods amongst the customs and traditions of true traditional gypsies in Ireland as a young boy growing up in Dublin . Thomas has travelled the world studying a wide variety of spiritual, philosophical, and mediation dicisplines including three years training with Franciscan monks, finally completing his healing, esoteric and channelling training a Maori Medicine Woman. Thomas approaches his clients from a point of acceptance, empowerment, and calm.
With a lifetime of experience and working from a perspective of "physician heal thyself" he helps you to set yourself free whether in his work readings with runes, tea leaves, tarot, clairvoyance, or intuitive counseling.
Like his wife Jacquelene, Thomas was also taught to read tea leaves as a child, she was taught by her grandfather, he was taught by his grandmother. Th omas was handed a set of rune stones from his grandmother which he still at times uses in readings today. Thomas and Jacquelene are available for functions together or separately.
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Written with great clarity, "The Strategy and Tactics of Pricing" is a phenomenal book. It begins with an explanation of strategic pricing, and proceeds to cover competition in the market place, segmentation of buyers, pricing and the marketing mix for industrial and consumer goods, as well as the psychology of pricing. Also covered are models for determining price sensitivity, implications of sales staff price setting and negotiation, and finally, legal aspects of pricing.
After reading this book, you will understand the pitfalls of pursuing market share at all costs and common mistakes businesses and sales people make when setting or negotiating price. You will view your current pricing structure and strategy in a new light, and be able to spot the weak spots. You'll have a better picture of how to attract the right buyers, those that can be served profitably.
The book indirectly touches on topics covered in Co-opetition, and Thinking Strategically, as well as elements of the Theory of Constraints (see Eli Goldratt's "The Goal" and "It's Not Luck" or "Management Dilemmas" by Eli Schragenheim)
(From quoting Adam F. Jewell, USA)
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"Pricing is the moment of truth - all of marketing comes to focus in the pricing decision."
When Raymond Corey wrote these words at the Harvard Business School in the early 1960s, marketing was just coming into its own as a strategic discipline that could drive the direction of a business. Unfortunately, few marketing practitioners actually took Corey's words to heart. Enjoying their new prestige and power to influence corporate strategy, they were reluctant to let financial considerations constrain their "strategic" thinking.
Instead, they focused on achieving market share and customer satisfaction, believing that high profitability would somehow naturally follow. Marketing academics also slighted pricing, offering little research and few courses on the subject. Whenever the subject of pricing problems did arise, professors assured their students that all could be solved indirectly by redoubling efforts to differentiate products and services.
These attitudes toward pricing changed radically when marketers encountered the challenges of the 1980s. Companies with leading brand names saw brand loyalty and their power over distribution erode from years of price "promotion" to defend market share. Even large companies often found profits unattainable, as smaller firms targeted and lured away the most profitable customers (a practice labeled "cream skimming" by the victims). Successful corporate raiders then showed that they could increase cash flow and profits, often by raising prices, even as they lost some share. In the 1990s, a brief counterrevolution took place, as e-competitors bought market share from more efficient bricks and mortar competitors. By the end of 2000, most e-competitors went bankrupt, while the remainder looked for ways to charge prices consistent with financial viability.
Not only marketing practitioners are now under the gun to show that their efforts can ultimately pay off at the bottom line. So also are marketing theorists. Companies have become almost maniacal in their focus on increasing shareholder value. Strategies defined in terms of market share or customer satisfaction alone get short shrift. For marketers to achieve respect and influence, the key is to show how their ideas can generate profitability. As a result, creative thinkers are integrating marketing thought with financial concepts.
Successfully making that integration requires understanding not only what creates value for customers, but also how and when that value can be transformed into earnings per share. This does not mean that companies should regress to the days when they naively tried to increase profits by marking up costs with higher margins. It means understanding that strategic pricing is about much more than setting prices. It is about targeting markets that can be served profitably, communicating information that justifies price levels, and managing pricing processes and systems to keep prices aligned with value received.
These are not skills that have traditionally resided in finance or marketing departments. Strategic pricing is becoming a profession in its own right that bridges marketing, finance, sales, and top management. The Professional Pricing Society reported in a survey of its members that pricing decisions were principally made by a pricing manager in 25 percent of the companies and by a cross-functional team in another 20 percent. Others cited were the marketing department (15 percent) and product manager (15 percent). Decentralized pricing by the sales organization was practiced in only 11 percent of these companies, and none had pricing principally made by finance. Although this is a biased sample, it is indicative that price in the most sophisticated companies is being proactively managed... |
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View all 12 comments |
Guy Kawasaki, CEO, Garage Technology Ventures , USA
<2007-11-26 00:00>
The best book ever written about pricing is The Strategy and Tactics of Pricing by Tom Nagle and Reed Holden - these guys know their stuff and it works! |
Philip Kotler, S.C. Johnson & Son Distinguished Prof. of International Marketing, Northwestern Univ., USA
<2007-11-26 00:00>
Most executives name pricing as their major challenge and major weakness. This book is an answer. It is full of new ideas arid insights. |
Eric G. Mitchell, President, The Professional Pricing Society , USA
<2007-11-26 00:00>
For more than a decade, this book has been the most influential and highly regarded reference among pricing professionals. |
Scott Heekin-Canedy, President and General Manager, The New York Times, USA
<2007-11-26 00:00>
The concepts espoused in this book taught us to focus on how we deliver superior value to our customers, and thereby enabled pricing strategies that have driven both our growth and profitability. |
View all 12 comments |
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