Getting Price Right

An insightful and engaging integration of behavioral theory and pricing practice. -- Thomas Nagle, founder of the Strategic Pricing Group and coauthor of <i>The Strategy and Tactics of Pricing: A Guide to Growing More Profitably</i> For any business owner or business manager, Getting Price Right is a must-read. Gerald Smith is one of the preeminent voices in the field of pricing and this book delivers, demonstrating why understanding, reframing, and refining pricing strategy in a rapidly evolving marketplace results in better profitability and customer and consumer satisfaction. -- Eric Nyman, chief consumer officer, Hasbro There are introductory books available for people new to pricing and higher-level books for people who want to get into the theory of pricing and analytics. What has been missing is an advanced pricing strategy book that connects practical everyday pricing approaches with academic scholarship. Gerald Smith has done just that. This is an excellent read for all pricing stakeholders looking to better understand how pricing fundamentals like customer value and willingness-to-pay intersect with the evolving science of behavioral economics. -- Kirk Jackisch, president, Iris Pricing Solutions With Getting Price Right, Gerald Smith provides an accessible and perceptive look at the behavioral elements of pricing strategy. -- Hermann Simon, founder and honorary chairman, Simon-Kucher & Partners Smith shines light on the psychological biases that have long made pricing as much art as science. Drawing the link between behavioral economics and pricing theory, he explains how to take advantage of the quirks that motivate consumers to, for example, pony up for a subscription to shave butter instead of buying cheaper shaving cream at the drugstore. At the same time, Smith uncovers the competing magnetic forces that explain why finance, marketing, and accounting managers each seem to approach pricing problems from a different planet and how to optimize among their competing influences in the organization. Getting Price Right steers new managers through the foundations of profitable pricing while offering new tricks for experts in readable prose with intuitive examples. -- Samuel Engel, senior vice president, ICF This book makes a strong contribution to pricing knowledge by bridging the bodies of pricing and behavioral science with a unique focus on pricing orientation. It proposes a comprehensive and structured review of critical concepts with practical recommendations and examples on how to use them in real business life. This is a must have book to any pricing practitioner's library. -- Stephan M. Liozu, founder of Value Innoruption Advisors