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Pricing of Products & Services by Tridib Mazumdar (Hardback)
£90.00
Out of stock
Product Ref. (e.g. ISBN, SKU)
9789811204173
Published:
26 Dec 2020
Format:
Hardback
Number of pages:
376 pages
Dimensions:
159x235x28mm
Weight:
0.690kgs
Author:
"The price of a product or a service is a critical element of the marketing mix. Price influences product demand, the firm's revenue, and profits. Prices also signal product quality and value, customer self-image, and about the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts - current and emerging. Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology
The price of a product or a service is a critical element of the marketing mix. Price influences product demand, and the firm's revenue and profits. Prices also signal product quality and value, customer self-image, and the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts - current and emerging.Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology as well as the decision rules that consumers employ in framing of and responding to prices.As a practical step-by-step guide for firms, the book presents a comprehensive framework for pricing decisions. The framework illustrates how firms' pricing decisions are shaped by customer valuation of the product or service, firm cost, and competition within the category. Additional considerations include: channel arrangements, legal and regulatory limits, public sentiments, and the overriding strategy for the firm. Short cases and numerical examples help illustrate how these factors can be incorporated in firm making decisions.In addition to offering the theoretical foundation and practical guidelines for pricing, there are several distinctive features of the book.Pedagogically, the book takes a quantitative approach to pricing decisions and places a special emphasis on the utilization of data and analytics. Nevertheless, sound intuition and judgments remain a prerequisite.
| Number of pages | 376 |
|---|
We will despatch your order as quickly as we can. If, for whatever reason, a product is out of stock we will contact you to discuss the likely delivery time or an alternative product.
| First Item | 2 Items & Over | |
|---|---|---|
| UK | £3.75 | £5.00 |
| EU | £15.00 | £30.00 |
| USA & Canada | £30.00 | £50.00 |
| Rest of the World | £45.00 | £60.00 |
| Collect in Store | free | free |
Additional Delivery Information (and some really important bits):
UK Delivery
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Shipments to the USA & Canada:
First Item @ £30.00
2 Items & over @ £50.00 in total
Shipments to the Rest of the World:
First Item @ £45.00
2 Items & over @ £60.00 in total
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