The Ultimate List of Great Books on Pricing
Individual Book Review:
The Price Advantage
Book Authors: Walter L.Baker, Michael V.Marn, Craig C. Zawada
The Price Advantage, written by three distinguished pricing experts at McKinsey & Company, is a functional pricing guide for the executive or pricing professional who wishes to identify, gain, and sustain considerable pricing improvements in their business.
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The Price Advantage is a comprehensive guide into creating pricing strategies that succeed in both good and bad economic times.
The authors examine advanced approaches for improving and analysing pricing performance, critical for corporate performance and profitability, and they demonstrate these using real case studies and personal business experience. They produce a pricing excellence map for companies to follow.
Pricing is undoubtedly the most powerful profit lever that managers can control. However, very few companies use pricing to their advantage, in a way that fully exploits its value. This Second Edition of The Pricing Advantage, an extension of the first book, shows you how to achieve the price advantage in our complicated and competitive business environment.
The following are the key concepts introduced by the authors in The Price Advantage :
- Explores the fundamental role of pricing infrastructure in achieving the price advantage.
- Describes all components of pricing Excellence and a practical guide on applying it to your company.
- A chapter on Customer Value, how to map it and value profiling.
- Includes case studies on unique events such as post-merger pricing and price wars.
- Includes new topics such as software and information products pricing, lifecycle pricing, custom-configured products pricing, pricing of high-count product lines, pricing in distributed sales environments, "razor/razor blades" pricing, and tiered products and services pricing
- Revisits the full range of classic McKinsey pricing tools, including the pocket price waterfall and value maps
ABOUT THE AUTHORS:
WALTER L. BAKER is a partner in the Atlanta office of the international consulting firm of McKinsey & Company. Walter joined McKinsey in 1998 , he has worked with clients across multiple industries in the areas of pricing, sales, marketing, and strategy. He has lead consulting teams and clients worldwide as an expert on pricing strategy. He has a particular focus on the technology and industrial sectors. Walter is a graduate of Harvard University and MIT and has authored articles on pricing in CMO magazine, the McKinsey Quarterly, and the Harvard Business Review.
MICHAEL V. MARN is a partner in the Cleveland office of McKinsey & Company. After joining McKinsey in 1977 he has developed some of the most widely used analytic approaches for identifying and capturing opportunities in pricing. Holding a degree in mathematics and named to Consulting Magazine´s 2005 list of the World’s top 25 most influential consultants, he has written articles on pricing that have appeared in publications including the Wall Street Journal, the New York Times, and the Harvard Business Review.
CRAIG C. ZAWADA is a partner in the Calgary office of McKinsey & Company. Craig joined McKinsey in 1997, and has worked with companies across multiple industries, helping them to identify and capture improvements in pricing. His experience spans a wide range of B2B, and consumer products and he has developed new pricing concepts and ideas in the areas if market strategy, post-merger pricing and pricing infrastructure. His pricing articles have appeared in the Harvard Business Review, Mergers & Acquisitions, and the McKinsey Quarterly.