Pricing expert brings "Eastern enlightenment to Western marketing strategy".Marlene Jensen, author of the popular Pricing Psychology Report and a member of NL/NL's Editorial Advisory Board, has turned her eye to the East with a playful meditation on the art of pricing. Her new book, The Tao of Pricing, is written in the best tradition of succinct suc·cinct adj. suc·cinct·er, suc·cinct·est 1. Characterized by clear, precise expression in few words; concise and terse: a succinct reply; a succinct style. 2. Buddhist "poetry." Here, for example is the entire Preface: "Pricing is not a unilateral decision. "It's like a game of poker you play with both your customers and your competitors. "A skilled player both notices the tendencies of the other players ... "AND anticipates their reponses to his or her moves." While often presenting pricing strategies There are many ways in which the price of a product can be determined. The following are the foremost strategies that businesses are likely to use. Competition-based pricing Setting the price based upon prices of the similar competitor products. and considerations in the enigmatic way of Eastern thought, Marlene also offers up innumerable examples of the most-effective pricing tactics and practical ideas for increasing your profits. Its ten chapter titles should give you an idea of just how much ground she covers: * Premium Pricing Premium pricing is the practice of keeping the price of a product or service artificially high in order to encourage favorable perceptions among buyers, based solely on the price. * Smart Discounting * Numerology numerology Use of numbers to interpret a person's character or divine the future. It is based on the assertion by Pythagoras that all things can be expressed in numerical terms because they are ultimately reducible to numbers. * Competitive Pricing * Brand-name Pricing * Foolish Discounting * Line-Category Pricing * Cost-Plus Pricing Cost-plus pricing is a pricing method commonly used by firms. It is used primarily because it is easy to calculate and requires little information. There are several varieties, but the common thread in all of them is that you first calculate the cost of the product, then include an * "Reasonable" Pricing * Pricing and Insight As copywriter Bob Bly puts it in a blurb blurb n. A brief publicity notice, as on a book jacket. [Coined by Gelett Burgess (1866-1951), American humorist.] blurb v. for the book, "This book makes pricing so much fun, you might not realize how much you're learning." Excerpts: * From "Line-Category Pricing": "A peasant may not remain one. "Offering a range of models at different price levels lets consumers develop brand loyalty--before they can afford your best. "Example: By ignoring the low ends of their market, G.M. & Ford allowed Toyota and Honda to grow strong enough to challenge them with high-end cars." * From "Competitive Pricing": "Lower prices, relative to your competitors can cause your products to be perceived as lower quality. "Example: Ancillary Profits newsletter tested $97 and $127 annual prices, and received 11% MORE BUYERS at the higher price. "That's 45% more revenue." * From "'Reasonable' Pricing": "A 'reasonable' price is dependent upon the category of the product. "Therefore, wise marketers position their products in most-favorable categories. "Example: A newsletter costing $495 is an expensive publication--but cheap business advice." The insights and strategies revealed in The Tao of Pricing can be applied to any type of pricing--newsletters, special reports, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , even consulting fees. The book is priced at $39.95. But, for a limited time, you can get The Tao of Pricing for only $27--with discounts for multiple copies. Go to www.TAOofPRICING.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. and be prepared to make more profits from your existing products. |
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