Pricing for Profit: How to Command Higher Prices for Your Products and Services

Contents......Page 6
Acknowledgments......Page 12
Introduction......Page 16
Lost Revenues: Leaving Money on the Table......Page 19
Productivity Costs......Page 22
Wrong Customers......Page 25
Other Hidden Costs......Page 27
Quality Costs......Page 29
Subprime Mortgages......Page 32
WalMart......Page 33
The "Big Three" Automakers......Page 35
Our Lack of Name Awareness......Page 37
Our Customers Only Care About Price......Page 38
We'll Lose Market Share......Page 39
Executive Summary......Page 41
Selling Styles Mirror Buying Habits......Page 43
Know Thyself......Page 44
Automobiles......Page 45
Home Furnishings......Page 46
Business Supplies......Page 47
Confirmation......Page 48
Sales-Side Confirmation......Page 51
Nature and Strategy......Page 52
Know Others, Too......Page 55
Frustration......Page 57
Wasted Training Dollars......Page 58
Turnover......Page 59
Professional Management......Page 60
Pricing Policy......Page 61
Outsourcing......Page 62
The High Cost of Low Prices......Page 63
Executive Summary......Page 64
Value......Page 66
Are Customer Preferences Constantly Changing?......Page 67
What Customers Value......Page 68
Image......Page 71
Innovation......Page 79
Time Savings......Page 82
Executive Summary......Page 92
The Power of Discovery......Page 94
What Your Prospect Values......Page 95
Little or No Interest......Page 96
Some Interest......Page 99
Your Ideal Prospect's Interest......Page 100
Image......Page 101
Innovation......Page 105
Time Savings......Page 110
Executive Summary......Page 115
What Bundling Can Do for Your Business......Page 116
Increases Your Average Sale......Page 117
Reduces Your Risks......Page 118
Horse Trainer Example......Page 119
Clothing Purchase Example......Page 127
Computer Example......Page 131
Consultant Example......Page 136
Investment Advisory Example......Page 141
Executive Summary......Page 146
6 Avoiding No: Using Options to Close the Sale......Page 148
Budget Considerations......Page 149
Delineating Options......Page 150
Pricing the Options......Page 157
Consulting Example: Value Calculation......Page 158
Consulting Example: Price Calculation......Page 161
Deciding to Sell Up or Down......Page 162
Retail Product Sales: Home Theater Systems......Page 164
Business Loans: Increasing the Close Rate......Page 168
Executive Summary......Page 180
7 Value as a Marketing Tool: Attracting the Right Buyers......Page 181
Understanding the Value You Provide......Page 182
Crafting Messages That Have Meaning for Your Buyers......Page 183
Using Language That Conveys Your Value......Page 186
Avoiding Price Language That Diminishes the Value You Provide......Page 192
Creating an Effective Call to Action......Page 193
Horse Trainer: Attracting the Right Buyers......Page 194
Clothier: Attracting the Right Buyers......Page 198
Executive Summary......Page 202
Identifying Pitfalls......Page 205
Competitor-Directed Change......Page 206
Self-Directed Change......Page 207
Technology-Directed Change......Page 209
Avoiding Pitfalls......Page 210
Executive Summary......Page 212
Why the Economy Doesn't Matter......Page 213
The Right Way to Lower Prices......Page 216
Executive Summary......Page 217
Bigger Isn't Better......Page 219
Avoiding Price Competition......Page 220
Executive Summary......Page 221
Notes......Page 222
Index......Page 224
B......Page 226
C......Page 227
I......Page 228
M......Page 229
P......Page 230
S......Page 231
W......Page 232