Pricing for Profit : How to Develop a Powerful Pricing Strategy for Your Business.

Acknowledgements; Introduction; Who should read this book; How to read this book; Bonus resources; Is it just textbook theory?; Can you really apply these ideas in your business?; People don't always focus on the key issues; Products or services; Summary; Action points; 01 Pricing in context; How any business can improve its bottom line; The Five Ways to Grow a business; Why people fail to see the problem as a price issue; Summary; Action points; Reader challenge; 02 Why is pricing so difficult?; The importance of knowledge and training.

How to avoid the impact of your bad experiencesBlindly copying the big retailers; Limited financial understanding of how profits are made; People's desire to please, and their freedom to do so; People need to be properly motivated to change; Summary; Action points; 03 The remarkable benefits of getting pricing right; Understanding what you actually charge at the moment; Increasing the headline price (but with added value); How you can charge more when you guarantee value; Making sure your frontline people understand the profit equation; Summary; Action points.

04 How most businesses price and why these methods are wrongCost plus pricing -- the fundamental flaw; Undercutting competitors -- it simply cuts your profits; Last year's pricing plus a bit -- the bit is never enough; Best guess pricing -- it's just a stab in the dark; Value to each customer -- the only pricing strategy that really works; Summary; Action points; 05 Understanding value versus cost; The Value Scales; What happens when the scales don't balance?; How to balance the scales; The dissipation of value over time; The importance of discussing value with customers; Summary; Action points.

06 Packaging for higher pricesThe four ways to maximize each sale; Using price to up-sell and cross-sell; Offering choices increases the value of the sale; Alternative price options affect the perception of value of all options; Setting price differentials properly; The price of pain; Summary; Action points; 07 Customers don't always want the cheapest; Increasing prices doesn't automatically mean losing customers; Summary; Action points; 08 Exploding all of the myths about pricing; Myth: Customers only want the cheapest; Myth: Loss leaders work.

Myth: A 50 per cent off sale is a 50 per cent off saleMyth: Presentation of the price doesn't matter; Myth: All prices should end in a '9'; Myth: The best person to set the price is the salesperson; Myth: Setting prices is a once a year decision; Myth: Every customer is worth having and every sale matters; Myth: Raising prices loses customers; Summary; Action points; 09 Using guarantees to get increased prices; Risk versus reward; Price-match guarantees; Using guarantees to add value to your side of the Value Scales; Offering options with and without guarantees.

Acknowledgements; Introduction; Who should read this book; How to read this book; Bonus resources; Is it just textbook theory?; Can you really apply these ideas in your business?; People don't always focus on the key issues; Products or services; Summary; Action points; 01 Pricing in context; How any business can improve its bottom line; The Five Ways to Grow a business; Why people fail to see the problem as a price issue; Summary; Action points; Reader challenge; 02 Why is pricing so difficult?; The importance of knowledge and trainingHow to avoid the impact of your bad experiencesBlindly copying the big retailers; Limited financial understanding of how profits are made; People's desire to please, and their freedom to do so; People need to be properly motivated to change; Summary; Action points; 03 The remarkable benefits of getting pricing right; Understanding what you actually charge at the moment; Increasing the headline price (but with added value); How you can charge more when yo ...

Price is the most significant factor affecting the profitability of every business, profit centre or department. When the pressure is on to perform or grow, your instinct may be to discount, undercut your competitors, cut costs and promote through price. Yet these are often the last things you should do. Pricing for Profit is the most practical guide on pricing available. Using a firm, profit-focused framework developed running real projects for real businesses, this book shows you how by getting your pricing structures right you can make a huge difference to your bottom line. It gives busines.