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While much is changing in the business landscape, one thing remains constant: the importance of effective pricing strategies. No matter if you're a seasoned business owner or a budding entrepreneur - you need to understand the nuances of pricing, as it can make or break your venture.
To help you navigate this complex terrain and become a pricing expert, we've curated a list of 17 must-read books on pricing strategies. These books offer a wealth of knowledge, from basic principles to advanced techniques, and are recommended by experts in the field.
So? Here we go!
This book focuses on the concept of designing products around their price. It argues that companies can achieve greater profitability by understanding what customers are willing to pay for a product and then designing the product to meet those expectations. The authors provide a comprehensive guide to monetizing innovation, from identifying target customers to setting the right price.
Our Review: ⭐⭐⭐⭐⭐
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This book introduces the concept of Zero Based Pricing, a rigorous and all-encompassing approach to purchasing management. You can read this book as it covers all phases of a product's manufacturing process, including design, procurement of raw materials, labor, and quality. The authors argue that this approach can help many companies achieve world-class competitiveness.
Our Review: ⭐⭐⭐⭐
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Neil Davidson provides a concise overview to software pricing, blending economic theory with practical advice. The book covers psychological pricing, common pitfalls, and advanced strategic pricing decisions for a product or service. It is particularly useful for those in the software industry who are looking for a straightforward guide to manage pricing options.
Our Review: ⭐⭐⭐⭐
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This book is a comprehensive introduction to the pricing of commodities and commodity derivatives. It covers various types of commodities, including agricultural products, metals, and energy. The book is particularly useful for traders, analysts, and anyone interested in the commodities market.
Our Review: ⭐⭐⭐⭐
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Dan S. Kennedy provides a clear explanation to pricing strategy. The book is filled with actionable insights and practical advice on how to set prices that not only attract customers but also maximize profits. It's a must-read for business owners who want straightforward, effective strategies for pricing.
Our Review: ⭐⭐⭐⭐⭐
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This book offers a step-by-step manual to pricing planning, specifically designed for small- to medium-sized business owners. It provides time-tested strategies for making optimal pricing decisions without the need for hiring a consultant.
Our Review: ⭐⭐⭐⭐
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Focused on commodity option pricing, this book is also very useful. It is particularly beneficial for those who are involved in trading commodities and are looking for specialized pricing strategies.
Our Review: ⭐⭐⭐⭐
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This pricing book is tailored for product managers and offers information on how to power pricing methods and strategies. This book is full of various aspects of pricing, from setting initial prices to adjusting them according to market conditions.
Our Review: ⭐⭐⭐⭐
This one provides insights into commanding higher prices for your products and services. It offers practical advice and strategies for understanding the value of your offerings and how to communicate that value to customers.
Our Review: ⭐⭐⭐⭐⭐
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This book is a comprehensive overview to exotic options and hybrids, focusing on structuring, pricing psychology, and trading. It is particularly useful for traders and analysts who are looking for advanced pricing techniques.
Our Review: ⭐⭐⭐⭐
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This book introduces the concept of value-based pricing and clear explanations, arguing that customers are willing to pay more when they perceive higher value. It provides a framework for creating, communicating, and capturing customer value. This book is a must-read.
Our Review: ⭐⭐⭐⭐⭐
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This book provides a comprehensive overview of derivatives and their pricing. It is particularly useful for those interested in financial markets and looking for advanced pricing strategies for derivatives.
Our Review: ⭐⭐⭐⭐
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This book offers a pricing framework that has been proven successful by some of the world's most profitable companies. It provides practical guidance, addresses pricing mistakes, and shows a fresh pricing approach for a more accurate value-based strategy.
Our Review: ⭐⭐⭐⭐⭐
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This book focuses on leading pricing analytics and offers advanced quantitative techniques for product pricing. It is particularly useful for analysts and data scientists who are involved in pricing decisions.
Our Review: ⭐⭐⭐⭐
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This book provides an in-depth look at pricing techniques specifically for credit products. It covers various aspects, including risk assessment, customer segmentation, and competitive pricing.
Our Review: ⭐⭐⭐⭐
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This book explores the impact of international factors like culture, language, and political systems on pricing strategies. It is particularly useful for businesses that operate in multiple countries. Available in hardcover and softcover.
Our Review: ⭐⭐⭐⭐
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This book is specifically tailored for those who are in the handmade soap business. It provides a step-by-step process to budgeting and pricing for profit, covering everything from cost calculation to market analysis.
Our Review: ⭐⭐⭐⭐⭐
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Absolutely, reading books on pricing can be incredibly enlightening and inspiring. They offer valuable insights into the psychology of strategic pricing, market trends, and innovative approaches that you might not have considered.
However, it's essential to note that while these books provide a solid foundation for pricing models and give many tips for pricing, implementing a new strategy in your business is a complex task that often requires a tailored approach to pricing.
Books can offer theoretical knowledge and case studies, but your business is unique, with its own set of challenges and opportunities. Therefore, it might be difficult to remodel your strategy solely based on what you've read. This is where pricing consultants come into play - collaborating with experts who can analyze your specific business model, customer base, and market conditions can help you implement a plan that maximizes profitability and market share.
We hope this curated list of 17 must-read books on pricing strategies serves as a valuable resource for you.
These great books address pricing issues, offer a unique perspective on pricing, and also discuss:
and much more from many pricing professionals. While books can provide a wealth of knowledge, remember that effective pricing is often a collaborative effort that may require expert consultation.
Whether you're looking to overhaul your current pricing strategy or fine-tune it, best books on pricing offer a great starting point. Happy reading!
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Certified expert in price, revenue and margin management in B2B companies and e-commerce. Member of the prestigious Professional Pricing Society. At Valueships, he is responsible for the implementation of consulting projects and taking care of the profitability of clients. Prior to joining Valueships, he worked at McKinsey & Company in the area of pricing and strategy.
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Certified expert in price, revenue and margin management in B2B companies and e-commerce. Member of the prestigious Professional Pricing Society. At Valueships, he is responsible for the implementation of consulting projects and taking care of the profitability of clients. Prior to joining Valueships, he worked at McKinsey & Company in the area of pricing and strategy.
