Market-Oriented Pricing: Strategies for Management

By Michael H. Morris; Gene Morris | Go to book overview

FOREWORD

When a business firm attempts to mold its whole policy to meet the prices of its competitor, that business is entering a labyrinth the center of which is the chamber of despair. Highest quality never can be given nor obtained at the lowest prices. If a price must be sacrificed, quality must be sacrificed. If quality is sacrificed, society is not truly served.

H. T. Garvey

I suspect we agree that business is not a very precise science. And of the many business functions, pricing emerges as one of the least understood. Like most fuzzy areas, it has generated more than its share of books, seminars, and articles. It's sort of a contradiction. Pricing, one of the great Pillars of Marketing, is loaded with vagueness and inconsistency. As practiced by many, pricing is anything but a planned and coordinated business function. An example:

A manufacturer of business and computer forms is trying to get in with a major national bank. The forms company is a division of one of Fortune's Fifty and has some of the advantages of a conglomerate's corporate clout. The competition, a medium-sized company, has been selling to the bank for years. The dialogue:

"Hell, the bank's V.P. Purchasing is so fond of them there's no way we can get in."

"How about price?"

"Price? We just might get a piece of it if we went in at cost or even shaded that a bit. After we are in, maybe we could bring the price up. Problem is getting it past our legal people. Predatory pricing ain't pretty words, George."

"Here's another idea. As a conglomerate, we have loads of different division bank

-xv-

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Market-Oriented Pricing: Strategies for Management
Table of contents

Table of contents

  • Recent Titles from Quorum Books ii
  • Title Page iii
  • Contents vii
  • Illustrations xi
  • Foreword xv
  • Preface xvii
  • 1 - Introduction: Price as a Statement of Value 1
  • References 17
  • 2 - Developing Pricing Programs 19
  • References 37
  • 3 - Understanding and Using Elasticity 39
  • References 54
  • 4 - The Psychology of Pricing 55
  • References 69
  • 5 - Negotiating Prices with Customers 71
  • Summary 85
  • References 86
  • 6 - Examining Costs from a Market Perspective 87
  • Summary 104
  • 7 - Industry and Competitor Analysis 107
  • References 124
  • 8 - Pricing across the Product Line 125
  • Summary 141
  • References 142
  • 9 - Legal and Ethical Aspects of Pricing Decisions 143
  • References 161
  • 10 - Computers as an Aid in Pricing 163
  • References 189
  • Suggested Readings 191
  • Index 197
  • About the Authors 201
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