eBook[PDF]

Pricing Strategies: Harvesting Product Value 2nd Edition By Robert M. Schindler

$30.00

✓ Secure checkout

✓ Instant digital download

✓ PDF document

Document details

Pages: 425
File size: 2.41 MB
Format: Digital PDF
Course: Education
Category: eBook[PDF]

About this ebook

The textbook Pricing Strategies: Harvesting Product Value (2nd Edition) by Robert M. Schindler provides a structured, 18-chapter framework for managing prices. The book blends behavioral psychology, microeconomics, and analytical business techniques into three core sections. [1, 2, 3]

The primary topics and chapters covered in this edition include:

Part I: Setting of Initial Prices

Pricing Fundamentals: Understanding pricing as a core element of the marketing mix, establishing pricing policies, and setting basic objectives. [1, 2, 3]
The Starting Point: Defining cost-plus boundaries and creating baseline price assumptions. [1]
Assessing Customer Value: Estimating economic value to the customer, establishing reference values, and identifying differentiation value drivers. [1, 2]
Breakeven Analysis: Utilizing fundamental breakeven metrics to determine the minimum financial viability of an initial price point. [1]

Part II: Modification of Existing Prices

Generalized Breakeven Formula: Expanding standard math to evaluate the impact of changing existing prices. [1, 2]
Economic & Competitive Response Factors: Predicting how the broader market and competitors will react to changes in your pricing. [1]
Knowledge-Related Factors: Analyzing how customer knowledge of prices (and price recall) influences their buying choices. [1]
Feelings-Related Factors: Incorporating consumer psychology, price fairness, framing effects, and prospect theory (how buyers perceive gains vs. the "pain of paying"). [1, 2]
Empirical Measurement: Applying mathematical models, multiple regression analysis, and price elasticity to map out customer response data. [1, 2]

Part III: Developing a Price Structure

Price Segmentation Fences: Strategies to charge different prices to different segments without causing friction.
Time & Place Criteria: Using temporal fences (e.g., peak vs. off-peak) and geographic boundaries to segment pricing structures.
Product Line Pricing: Structuring tier-based models, high-low pricing, and evaluating the interactions between related products within a portfolio. [1, 2, 3]

Part IV: Interactive and Cutting-Edge Models

Flexible Pricing & Negotiations: Transitioning between fixed-price systems and interactive price formats like auctions or customized RFPs.
Modern Digital Pricing Frameworks: Expanded concepts tailored to the modern economy, including freemium setups, in-app purchasing architectures, subscription models, tipping mechanisms, and pay-what-you-want (PWYW) parameters.
Algorithmic Pricing: Working with automation, dynamic pricing software, and data-driven price adjusting algorithms.
Societal Implications: Evaluating the ethical landscape, legal regulations, price fixing traps, and the overall social responsibility of the pricer. [1, 2]