Power Pricing

Book Description

In today's hypercompetitive global marketplace, a company's pricing policy can make or break the bottom line. Yet a surprising number of firms attempt to increase profits without the aid of a carefully and creatively designed pricing strategy. Now, in this long-awaited book, the world's two leading price experts Robert J. Dolan and Hermann Simon take managers beyond conventional thinking to show how their breakthrough system of "power pricing" will improve the bottom line by an order of magnitude. They destroy popular but not necessarily financially savvy ideas on pricing, such as relying on a standard markup on cost rule. They expose as passive the "strategy" of letting the market or a competitor "set the price." But the key is in what they provide: the tools by which the pedestrian pricer can become a "power pricer" who achieves quantum leaps in financial performance by aggressively implementing sophisticated pricing strategies.

Dolan and Simon combine their international expertise and know-how to reveal the latest breakthroughs in pricing tactics. Drawing on their firsthand experience with firms throughout the world, they make available for the first time the logic behind the actual practices of "power pricers" engaged in fierce global competition. Market segmentation, promotional pricing, competitive strategic pricing, international pricing, nonlinear pricing, interrelated product line pricing, and time-customized pricing are just a few of the crucial concepts which the authors explore and explain when and how to implement. The authors' approach to creating "power pricers" is twofold. They specify the practices of the strategic pricers among the world's most successful firms and then lay out a four-dimensional system to attain this level of pricing sophistication and resulting profit improvement. Dolan and Simon draw their portrait of the power pricer in four critical dimensions: viewpoint on pricing, fact file support pricing, tools and scope of analysis, and determination and implementation.

The authors argue that firms must view pricing as a key and highly manageable element in the profit equation, worthy of attention equal to that accorded to sales volume and costs. Companies must have data at their finger tips which are more accurate, timely, relevant, and dissaggregated than their competitors'. Using these data to create a systematic analysis of customers and competitors, companies will be able to create and assess pricing scenarios to achieve long-term profitability.

This targeted, quadrupled approach to transforming the bottom line by managing price leaves no strategy or option unturned. Power Pricing is a highly detailed yet practically focused book which will become required reading for business leaders; general managers; marketing, product, and brand managers; accountants, financial managers, and marketing students, world-wide.

Customer Reviews:

Nice book to get a nice start.......2007-08-07

I used this book for my job when I was asked to do pricing for a new product. It may not be the best book for that. But it did give me some prespective of what all things I should take into consideration. It helped me prepare a good model which helped compiled thoughts of everyone. I am still working on this pricing excercise and I feel that after a while, I will through away the model, but this books examples, stress on real profit drivers, importance of variable costs helped me concentrate at right drivers in the begninning. I would like to go for better, more practical book with some good mathematical models.

Gaining a strategic understanding of pricing in daily life.......2003-08-01

Why does there exist such a variety of pricing schemes for different products and why do we see different prices for the same product, depending on who buys it when, where, and how? This is a branch of microeconomics called price discrimination. Price discrimination questions are among the most directly observable ones for students, particulary those who are unlikley to study more economics or business. I therefore focus on these questions in teaching managerial economics in an organizational management graduate program.

Dolan's and Simon's book is therefore of some interest to me. These two management consultants have written an extremely practical and non-academic book which explores the actual practice of business pricing with greater sophistication than found in most standard applied micreconomics texts or many business marketing texts. The main markets for this book, I suspect, are students, having graduated but still disatisifed with the overly theoretical approach in their microeconomics classes, and business managers, especially in medium to large companies, for whom pricing is a very dynamic and strategic issue.

I doubt this book is used as a main teaching text, nor would I recommend it. Its basic concepts are hardly novel and are found in any microeconomics or marketing text.The presentation of the basic concept of price elasticity is somewhat long and tedious (it is usually done in less than a page in a standard microeconomics text). However, the application of this concept -and illustrations of how businesses can use it practically - makes for a very rich discussion.

What is useful in their book is the variety of examples of actual business settings where practical pricing decisions have to be made which can apply several different concepts. How globalization affects pricing decisions is given considerable attention in this book. I did not find the final section on implementation of priing strategy in organizations as insightful as the middle chapter which is more analytical.

For teaching and learning purposes, this could be a useful back-up resource, if used judiciously with a more standard text.

Generalista.......2001-03-18

Me parece que este libro da ideas básicas de las estructuras de precio usadas actualmente, sin embargo toca cada tema muy superficialmente y al menos en mi caso tuve necesidad de comprar otro libro sobre el tema con la idea de profundizar mas en las estructuras de precio no lineales.

Very Relevant Material.......2001-02-23

I work in the small appliance business. Price is one of the largest issues facing our industry. Dolan combines textbook economic theory, practical applications and real world examples to spin an enticing web of price application. This is a must read for : former economics majors who wish they had pursued a graduate degree, marketing people who have pricing authority (or wish they did) and sales people. The underlying message is reinforced by example.. price on customer perceived value. A great "pass around" text for co-workers, its not terribly academic, but you must keep with it in the slow chapters.

too specific and at the same time too general.......2000-03-16

Needing literature for my thesis I found this book. Looks promising, but quotes like "global brands coupled with differentiated prices are not possible" immediately dismiss this book as a good source of reliable info. I just have to mention the differing prices of MC Donalds throughout the world, and you know this quote is really worthless. Of course the quote has some meaning for high priced goods, but for almost all fast moving consumer goods this quote is rubbish. I think it would be useful to add to a future version of this book that this remark is more valid for high priced goods.

Second point that I want to make is that the author thinks all producers have factory outlet stores or that distributors don't have a supplier. But this is probably my business administration background asking for a real perspective on prices, instead of just one isolated part. Mr. Dolan please read some distribution channel management literature! There are suppliers and there often is a retail channel that has some power in setting their own prices (especially in EUROPE)It is not clear from what perspective the author is looking.

Book Description

What do phone rates, frequent flyer programs, and railroad tariffs all have in common? They are all examples of nonlinear pricing. Pricing is nonlinear when it is not strictly proportional to the quantity purchased. The Electric Power Research Institute has commissioned Robert Wilson to review the various facets of nonlinear pricing. The work starts with a general non-mathematical discussion, followed by a more technical presentation intended for readers with a fairly advanced background. Thorough and detailed, this study has ample examples of case studies from a variety of industries.

Customer Reviews:

Whoa, Einstein-dude!.......2002-10-25

This is the worst business book I have ever read. The connection between his hypothesis on pricing and his discourse on science and mathematics is lacking or at best weak. This is truly voodoo-finance at its worst.

Academically oriented........2002-01-02

Managers that have been out of school for two years will benefit more from theor own experiences.

Good text for MBAs to chew on.

Handy compendium.......2001-01-21

This is the most detailed monography on nonlinear pricing that one can get nowadays. Written by one of the most active and innovative theorist the book is filled with the masterly blend of both applications and theoretical models. Accessible to anyone who has a solid grasp on the fundamentals of microeconomic theory. It was written in the beginning of the 90s and since then significant research has been done - including the mechanism design aspect of nonlinear pricing theory. Thus a new, revised edition would be welcome both for researchers and students.

This is really the best and thorough book on the subject. The only wish I could have is the too light and concise treatment of nonlinear pricing in noncompetitive markets that are far from both extrema of monopoly and perfect competition. Nevertheless, an excellent read.

Nonlinear Pricing.......2000-05-01

This is a good book that gives an overview of how to a company can maximize its products/services by establishing a multiple pricing structure for identical products based on what customers they are targetting.

Modelling Prices in Competitive Electricity Markets (The Wiley Finance Series)

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Modelling Prices in Competitive Electricity Markets (The Wiley Finance Series)

Manufacturer: Wiley
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Binding: Hardcover

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ASIN: 047084860X

Book Description

Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices.

The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling.

Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.

Supply Chain Network Economics: Dynamics of Prices, Flows And Profits (New Dimensions in Networks Series)

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Supply Chain Network Economics: Dynamics of Prices, Flows And Profits (New Dimensions in Networks Series)
Anna Nagurney
Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover

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ASIN: 1845429168

Book Description

This book is the first to bring an economics perspective in a rigorous manner to complex decision-making in the management of supply chains. It provides the foundations for the modeling of the interrelationships among decision-makers in supply chains, ranging from manufacturers, distributors, and retailers, to the consumers, assuming individualized behavior. The models handle both competition and cooperation and provide the resulting product flows and prices in the chains. A unique network economics perspective is brought to the issue, setting the book apart from the numerous management and operations research volumes available.

After an introduction of the theoretical foundations, the book then extends and applies the theory to energy supply chains in the form of electric power generation and distribution networks. The relationships between electric power supply chains and transportation networks are vividly captured through theoretical results and the solution of practical examples. The book then explores environmental supply chain and financial networks with intermediation, which are interpreted as supply chains and also solved as such. Throughout, the underlying theme is that of transportation networks and how the relationships between supply chain networks and the more established theory of transportation network equilibria can be applied and exploited for logistic-type applications.

Book Description

How to master the power of buzz
Trendspotters and bestselling authors Marian Salzman and Ira Matathia demystify buzz and show how marketers can create and leverage it for the success of their products and services. The world we inhabit is in constant flux, and the captive audience on which advertisers relied for years no longer exists. Branding today requires a flexibility and creativity that have thus far eluded many traditional practitioners. When there is no clear forum for communicating your brand message to the audience, you must have your audience do it for you. The authors show how and why buzz works, examining case studies like Kate Spade, Madonna, Bulgari, Ford, Nokia, and French Connection. They explore the role specific consumer groups play in setting trends, show how influence works, reveal the efficacy of shock ads, and explain how to manage brand momentum. This book is a dynamic guide that sheds new light on the topic of buzz using real-world examples and case studies that show how marketers can manufacture the seemingly authentic word-of-mouth to which today's cynical consumer responds.

Customer Reviews:

Timeless advice..........2007-01-17

I was surfing the WEB looking for some resources on Creating Demand for products and services when I came upon this book. I immediately bought it and began reading.

There are steps to building demand for a product or service and creating the WOM (Word of mouth or "buzz") all marketers long for. By cleverly cultivating buzz, small businesses with small budgets can level the marketing playing field.

IF you want to create excitement about your product or service or launch a new product, start with BUZZ!

Heidi Richards, Founder & CEO - The WECAI Network(tm)

"Helping Women Do Business on and off the WEB."

Buzzing.......2004-11-06

Bought this book after trying to find more creative ways to market my internet product. Having worked in advertising on the creative side for years, this book really opened my eyes to a variety of interesting approaches to getting the word...out.
Great...

Not a deep dive.......2004-07-27

Buzz relies on its anecdotes and case studies to provide insight and explanation of the topic. The example-ware is interesting enough to keep the pages turning--the book's an easy read--but I was hoping for more. Using a diving analogy, if great business texts were scuba diving, Buzz would be snorkeling. While some of the material was thought-provoking, the text casually cruises around, and never really gets down below the surface.

If you're looking to get an idea of post-Barnum, modern influence marketing, Buzz works. If you're looking for exhaustive analysis of the title material, descriptive techniques, or methods, this may not be the book for you.

As an aside, there are repeated references to the authors' own company, which only detract from the work.

A footnote: The book includes an entire chapter on and shock and negative marketing. By virtue of posting this review, I realize I'm contributing to Buzz' own buzz.

Highly Recommended!.......2004-06-07

This book is essentially a compendium of standard marketing lore repackaged as a new gospel of brand building. Breezily if sometimes awkwardly written, it provides some useful insight into how technology and social changes have reduced the importance of advertising and magnified the impact of person-to-person chatter. Abundant examples, anecdotes and observations on current events help keep it relevant to contemporary business. Given that books trying to catch the next wave of what works can be called a success if they deliver a single insight that a reader can use effectively, we find this book successful and worth reading.

EURO-RSCG MOUTHPIECE, LACKS FOCUS, BUT INTERESTING CASES.......2003-11-09

When used in the context of marketing, the word "Buzz" usually conjures up connotations of PR or creative activities executed in unprecedented ways, rather than old-school advertising.

That's a notion that the EuroRSCG authors of this book clearly do not share. Everything even remotely within the gamut of marketing is smooshed in to this all-encompassing treatise. No reason, they felt for instance, to leave out traditional creative that successfully carries "shock value" (e.g., voyeuristic ads) and thus by implication, "buzz."

Personally, I was specifically interested in examples of usage of new media such as mobile phones or blogging, but both these issues get abysmally meagre mention in the book. A case of Amnesty International from Netherlands is mentioned regarding the use of SMS. As for blogs, we are recommended, in 2 paltry pages of coverage, to keep ourselves "apprised" with what users around the world may be writing about our brands.

That's a bit like saying corporate governance is crucial for business, so well, keep your accounts clean. Right. How about a conceptual or theoretical framework, or even just a couple of concrete suggestions to actually DO something about it?

While the case studies are occasionally nifty -- e.g., MTV's hold on the spring break season for the youth in US; or Nando's in South Africa which uses creative advertising to position itself against McDonalds and KFC -- the book simply flip-flops all across the board trying to flesh out the fashionable catchet of buzz.

Book Description

Dr. Hines draws on her own extensive worldwide research and her consultations with major multinational corporations to provide a comprehensive, detailed study of the rationale underlying the emergence of global private power, ways to find opportunities for further development within the global private power business, and alternative methods and techniques for its development and finance. Her book shows that, with assistance from bilateral and multilateral government agencies such as the International Finance Corporation and the various national export-import banks, project debt ratios resonably low. Equity is usually contributed to the project by all the major participants. Global competition for viable power projects is tending to reduce costs and increase plant efficiencies. This work is a major contribution to our understanding of what global power privatization is, where it is being implemented and how it is done, and the various considerations that energy executives and public policymakers worldwide should keep in mind when they seek financing for their private power projects. Global power plant development commonly starts with regional and country risk analysis as the developer views alternative opportunities and compiles a prospectus for potential investors. As the developer analyzes the financial, market, operating, resource, political, and other risks, he or she usually considers possible methods of risk mitigation. With the participation of key host and home country and foreign partners, the developer selects the new location, the type of power plant and necessary equipment for the desired output, the fuel types and sources, the potential customers, the private financing methods, and the possibility of financial guarantees from the host government and bilateral and multilateral organizations. The markets of Asia, Latin America, and Europe present unusually good opportunities at the turn of the new century.

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The Power of Microeconomics
Peter Navarro
Manufacturer: Irwin/McGraw-Hill
ProductGroup: Book
Binding: CD-ROM

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ASIN: 0072283149

Book Description

The Power of Microeconomics and The Power of Macroeconomics offer clear, easy-to-understand lectures on principles of economics topics. The software provides attractive and illustrative PowerPoint visuals to help explain these topics. The Power of Microeconomics and The Power of Macroeconomics have both been thoroughly class-tested. Either CD can be combined with any of our economics texts, a guide, and Peter Navarro's self-monitored website to provide a true distance learning course. The website will provide 24-hour access, response, and a multiple choice testing for whichever principles text is chosen.

Book Description

A lucid and up-to-date introduction to understanding electrical power utilities in an era of change

Electric utilities worldwide are undergoing profound transformations: nationally owned systems are becoming privatized, privately owned systems that were previously regulated are becoming deregulated, and national systems are becoming international.

Professionals in the power sector must now work in a new world in which an understanding of the principles of markets and how to evaluate investment projects under competition are essential.

This text was written as a manual for the Russian Federal Energy Commission to train regional electricity rate regulators in the principles of economics and finance involved in regulating electricity markets and deregulating electricity generation. Requiring no familiarity with economics and using a minimum of mathematics, this book provides professionals in the power sector with the tools to face the new realities of electric utility operation.

Designed both as a reference for practicing professionals and as a textbook for university and continuing education programs, Electricity Economics: Regulation and Deregulation discusses:

The lessons learned from international experiences
Competitive versus noncompetitive markets
Cost and supply, profit, and economic efficiency
The cost of capital, including net present value, discounting, and risk and return
Wholesale power markets, generation expansion, and customer choice
Specific international examples including the Californian, Norwegian, Spanish, and Argentine power sectors
Plus numerous exercises to help clarify and support absorption of the concepts

Customer Reviews:

Very Good Book.......2005-07-27

This book is easy to follow all concepts. Any new power system engineers should have it in order to understanding a deregulated market.

Fast approach to worldwide electricity market understanding!.......2005-05-11

I used this book for an MBA project work about Italian electricity market. Easy to read and understand, it covers the basics of deregulation, the electricity market pool, the basic activities such as generation, trasmission, distribution and retail and proposes some real cases about market liberalization (California, Norway, Spain and Argentina) that should help to understand every kind of specific worldwide market. I found this book very useful for my educational purposes but maybe it could be too much generic for professional people.

The Value of a Dollar: Colonial Era to the Civil War: 1600-1865 (Value of a Dollar)

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The Value of a Dollar: Colonial Era to the Civil War: 1600-1865 (Value of a Dollar)
Scott Derks , and Tony Smith
Manufacturer: MacKenzie and Harris
ProductGroup: Book
Binding: Hardcover

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