3 state-of-the-art guides to understanding consumer behavior -- and leveraging it for higher retail profits Three books packed with up-to-the-minute insights into consumer behavior — and practical guidance on building more successful campaigns, products, formats, and experiences! Use innovative new pricing strategies to create value and attract customers... learn how today’s shoppers really think, behave, and buy… learn proven methodologies for transforming consumer knowledge into retail profits! From world-renowned leaders and experts, including Jagmohan Raju, Z. John Zhang, Herb Sorensen, Ph.D., Rick DeHerder, and Dick Blatt
In Smart Pricing: How Google, Priceline and Leading Businesses Use Pricing Innovation for Profitability, Wharton professors and renowned pricing experts Jagmohan Raju and Z. John Zhang draw on examples from high tech to low tech, from consumer markets to business markets, and from U.S. to abroad, to tell the stories of how innovative pricing strategies can help companies create and capture value as well as customers. They teach the pricing principles behind those innovative ideas and practices. Smart Pricing introduces many innovative approaches to pricing, as well as the research and insights that went into their creation. Filled with illustrative examples from the business world, readers will learn about restaurants where customers set the price, how Google and other high-tech firms have used pricing to remake whole industries, how executives in China successfully start and fight price wars to conquer new markets. Smart Pricing goes well beyond familiar approaches like cost-plus, buyer-based pricing, or competition-based pricing, and puts a wide variety of pricing mechanisms at your disposal. This book helps you understand them, choose them, and use them to win.
This Element is an excerpt from Smart Pricing (ISBN: 9780131494183) by Jagmohan Raju and Z. John Zhang. Available in print and digital formats. When “pay as you wish” pricing makes sense--and how to make it work for you. Typically, a seller turns to “pay as you wish” pricing because he believes the product will drive business for a higher margin product, because he believes that “pay as you wish” can yield more than conventional pricing, or both. Radiohead’s In Rainbows campaign shared the same four key qualities as any successful “pay as you wish” pricing program....
This Element is an excerpt from Smart Pricing (ISBN: 9780131494183) by Jagmohan Raju and Z. John Zhang. Available in print and digital formats. What your business can learn from Radiohead’s successful experiment with “pay as you wish” pricing. On October 9, 2007, the English alternative rock band Radiohead began an experiment: Rather than price their music conventionally, they let their fans pay whatever they wanted to download their latest 10-song album, In Rainbows. At the inrainbows.com checkout page, visitors found an empty price box. When they clicked on it, a message said, “It’s up to you.”....
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