The 1% Windfall: How Successful Companies Use Price to Profit and Grow [NOOK Book]

Overview

Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices.

The 1% Windfall reveals how modest incremental changes to an everyday business practice?pricing?can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a ...

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The 1% Windfall: How Successful Companies Use Price to Profit and Grow

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Overview

Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices.

The 1% Windfall reveals how modest incremental changes to an everyday business practice—pricing—can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%.

The good news is that better pricing is more than simply raising prices. Instead, the key is to offer customers a variety of pricing options. This strategy is win-win: profits to companies and choices for consumers.

But how do executives and managers set the right price? Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question. This book offers guidelines that any company—whether a multinational conglomerate, a small business, or even a nonprofit—can follow to create a comprehensive pricing strategy for any product or service. In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor.

The result is a mind-opening, clear blueprint for com-panies to price for profit and growth.

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Editorial Reviews

George Stalk
“Pricing volatility will likely be the greatest challenge management will face in the next decade. Rafi Mohammed provides pricing guidance that equips readers to successfully navigate and profit in these uncertain times.”
Booklist
“Pricing consultant Mohammed highlights ideas and tactics that build a foundation to create a pricing strategy for every global company, answering the question, ‘How would a 1% increase in price affect operating profits?’ This is an excellent book.”
Peter W. Olson
“A valuable insight into the strategic importance of pricing.”
Richard Spaulding
“This breakthrough “how to” book offers a practical and comprehensive framework that shows companies how to use price to drive profits from diverse customer segments in offensive and defensive (recession, inflation, and new competitor) situations.”
Michael R. Baye
“Rafi Mohammed uses insightful real-world examples to show how small changes in a company’s pricing tactics can lead to big profits. You will profit from this book - and enjoy every minute reading it!”
Joseph C. Thompson
“This is a rich resource for not-for-profits. Rafi Mohammed shows how smart pricing tactics can distribute educational and cultural benefits as widely as possible, yet still balance the books. It will change the way you think about pricing.”
BusinessWeek SmallBiz
“The Art of Pricing is an entertaining primer on how to unlock ‘hidden profits’ and growth by aligning your product’s price with the value customers place on it.”
Consulting Magazine
“The book offers practical guidelines that any sized company can follow to create a comprehensive pricing plan and increase profits without sacrificing customer loyalty. It’s a tricky equation, but Mohammed offers a strategic solution.”
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Product Details

  • ISBN-13: 9780061985270
  • Publisher: HarperCollins Publishers
  • Publication date: 3/16/2010
  • Sold by: HARPERCOLLINS
  • Format: eBook
  • Pages: 256
  • Sales rank: 764,192
  • File size: 341 KB

Meet the Author

Rafi Mohammed has been working with pricing issues for the last twenty years. He is the founder of Culture of Profit LLC, a Cambridge, Massachusetts-based company that consults with businesses to help develop and improve their pricing strategy. Born in Milwaukee and raised in Cincinnati, he is the author of The Art of Pricing and an economics graduate of Boston University, the London School of Economics, and Cornell University, where he received his Ph.D.

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Sort by: Showing all of 2 Customer Reviews
  • Posted May 28, 2010

    more from this reviewer

    Very well done!

    I recommend this book to anyone concerned with the sales and pricing of a product. Ours happens to be hotel rooms and I still found much value in this book.

    My typical rating would be a 3 for anything that met my expectations. This book exceeded them. It brought a few discussions within our management group regarding how best to change our pricing strategy to maximize our profits.

    Well done.

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  • Anonymous

    Posted January 8, 2011

    No text was provided for this review.

Sort by: Showing all of 2 Customer Reviews

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