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Combining perceptive insights from behavioral economics with leading-edge ideas on price management, this book offers a new approach to pricing. Gerald Smith demonstrates why understanding, reframing, and refining everyday pricing processes¿one¿s pricing orientation¿results in a better long-term pricing strategy.
List of contents
Preface
Part I. Behavioral Economics of Everyday Pricing Decisions1. Pricing Orientation | Pricing Strategy
2. Framing and Strategic Frames of Reference
3. Psychological Pricing Orientation: Psychological Price-Setting Bias and Skills
4. Social Pricing Orientation: Cultural Price-Setting Bias and Skills
Part II. Behavioral Economics of Cardinal Pricing Orientations5. Cost-Driven Pricing Orientation Biases and Skills
6. Customer Value¿Driven Pricing Orientation Biases and Skills
7. Customer Willingness-to-Pay¿Driven Pricing Orientation Biases and Skills
8. Competition-Driven Pricing Orientation Biases and Skills
9. Balanced Pricing Orientations, Profitable Pricing Strategy
Notes
Index
About the author
Gerald Smith is a business professor and chair of the Marketing Department at Boston College in the Carroll School of Management. An award-winning instructor, he teaches strategic pricing management in the BC MBA Program. He is the author of
The Opt-Out Effect: Marketing Strategies That Empower Consumers and Win Customer-Driven Brand Loyalty (2016) and editor of
Visionary Pricing: Reflections and Advances in Honor of Dan Nimer (2012). Smith has lectured widely in leading executive forums and consulted, researched, and worked with many Fortune 1000 business managers, small and medium businesses, and government entities.
Summary
Combining perceptive insights from behavioral economics with leading-edge ideas on price management, this book offers a new approach to pricing. Gerald Smith demonstrates why understanding, reframing, and refining everyday pricing processes—one’s pricing orientation—results in a better long-term pricing strategy.
