Smarter Pricing
How to Capture More Value from Your Market

By Tony Cram
Financial Times / Pearson Education
December 2005
ISBN: 0273706136
232 Pages, Illustrated
$62.50 Paper Original


Are your prices too low?
Some of your customers would pay more, and there are times and places where you could charge more. Of course none of your customers will tell you this, as competitors tempt them with promises of lower prices and the media trains them to be bargain-hunters.

All this price pressure is one way. Downwards. This book will help you to move your customers and your business in the other direction. Upwards.
It’s all about commanding the right price, and the right price is, more than you would imagine possible, a higher one. This is Smarter Pricing, and these are the rules of commanding a higher price and capturing more value.

Smarter Pricing is designed to be a short, sharp companion to intelligent pricing. Built around three core elements: customers – smarter ways to understand them, competitors – smarter ways to outwit them and company success – smarter ways to capture value, the book will guide you to more profitable possibilities and support more decisive pricing.

Use the advice and it will deliver excellent value to you.

Reviews
" Whatever price you pay for this book, it will deliver outstanding value"
Hugh Burkitt, Chief Executive, The Marketing Society
"A thought-provoking insight to the psychology of strategic pricing. Tony Cram's study into this sensitive commercial area is packed full of intelligent and practical evaluations. This book will become a must-read for all business managers involved in competitive, consumer-facing commerce."
Steve Knott, MD HMV UK& Ireland Ltd
"An excellent book, on a critical area of strategy that has never before been analyzed sufficiently. The analysis of value and the destructiveness of price wars is particularly valuable."
Miles Templeman, Director General, Institute of Directors
“With margins for companies becoming more and more squeezed, efficient pricing is a key lever companies must get right to succeed and prosper within their marketplace. Setting the 'right' price is extremely difficult and can be instrumental in defining the position of a product along its lifecycle. Tony Cram helps cut through some of the issues with a practical framework to help businesses optimize the value from any product.”
Matthew Stanton, Inbev UKFinance Director

Contents
1. Pricing by voodoo or bingo? – there’s a better way.

CUSTOMERS - SMARTER WAYS TO UNDERSTAND THEM
2. When they say price, they really mean value

3. What would you pay for this? – perils and pitfalls of pricing research
4. Price discrimination – segmenting by price sensitivity
5. Customers behaving badly – how price can help

COMPETITORS - SMARTER WAYS TO OUTWIT THEM
6. Standing out from the crowd – pricing role in positioning and differentiation
7. Competing with value players – hit back with benefits
8. Fighting price wars – planning to escape pain

COMPANY SUCCESS – SMARTER WAYS TO CAPTURE VALUE
9. Fixing the right price – structures, segments and stairways
10. Communicating prices – creating positive perceptions
11. Why pay more? – how to get higher prices
12. Pricing success – keeping discipline, measuring results

EXECUTIVE SUMMARY & LAST WORD
13. Smarter pricing – the five minute version
The last word on price

Author
Tony Cram is a Program Director at Ashridge Business School - one of Europe’s leading centres for Management Development. Tony designs and delivers programs on business strategy and market innovation. Clients include BOC Group, Marriott Hotels, HMV, Interbrew and Varta GmbH.
Internationally he has taught at Swedish Institute of Management, Vlerick Leuven Gent Management School, Stockholm School of Economics, PEF University Styria, and University of Michigan, USA.
Tony has a particular interest is in understanding Customer Value, developing brands and the dynamics of long term business relationships. He speaks at public conferences on competitive marketing and innovation, and has written and contributed to many books including: Customers that Count –How to build living relationships with your most valuable customers (Financial Times Prentice Hall 2001), The Power of Relationship Marketing (Pitman Publishing 1996, paperback edn. 2002).

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