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Winning the Profit Game: Smarter Pricing, Smarter Branding
 
 
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Winning the Profit Game: Smarter Pricing, Smarter Branding [Hardcover]

Robert G. Docters , Michael R. Reopel , Jeanne-Mey Sun , Stephen M. Tanny
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Product details

  • Hardcover: 304 pages
  • Publisher: McGraw-Hill Professional; illustrated edition edition (1 Jan 2004)
  • Language English
  • ISBN-10: 0071434720
  • ISBN-13: 978-0071434720
  • Product Dimensions: 23.6 x 15.7 x 2.8 cm
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 368,547 in Books (See Top 100 in Books)

Product Description

Product Description

In the endless quest to boost your bottom line, you've done it all: re-engineering, downsizing, new purchasing strategies, TQM, CRM, automation, new sales channels and technologies. Problem is, everyone else has done it, too. And while these once-innovative techniques may still be helping your organization to hold its own, they are long past delivering the impact, excitement, and competitive advantage they initially offered. Smart managers and smart companies are already asking, what's next? How do we stay ahead?In "Winning the Profit Game", the authors offer a simple but powerful solution - to keep improving the bottom line, your organization must now shift its sights and focus on growing the top line. They also introduce the two fundamental tools for producing top-line growth: price and brand. The skill with which these tools are used varies widely from company to company, with most firms performing poorly. This means that anyone who takes the time to learn how to use them correctly can quickly establish a huge competitive advantage.This comprehensive guide to maximizing profits offers sophisticated, yet common-sense approaches that turn value into money and make pricing a logical, high-return activity, integral to the development of new products and services. It illustrates the absolute link between brand and price and explains why a superior pricing strategy cannot exist without a detailed brand strategy. It also shows you how to optimize price, brand, costs, and product development for any business, whether manufacturing or services. You'll discover how to win the profit game by integrating your pricing and brand strategies and growing your top line in any business environment, no matter how tough.You'll master the tools that will enable you to: use price as a language that speaks to your customers; develop an effective, integrated price and brand strategy; optimize prices to increase revenues; manage ongoing revenues; penetrate new markets using price as a competitive wedge; and transform your organization into a price and brand powerhouse. Complete with real-world price frameworks and success stories from a wide variety of industries, "Winning the Profit Game" also features instant access to critical strategies, tools, and techniques for busy managers who need to make key decisions in a hurry. It is the ultimate guide for business leaders like you, whose responsibility it is to grow the bottom line and emerge victorious in the war for profits. How to use price and brand as strategic tools to boost revenues and maximize profits."Winning the Profit Game" gives you instant access to tools and techniques that can increase profits, in boom times and bust, using smart top-line strategies that optimize price, costs, customer behaviour, and volumes. You'll learn how to develop an effective, integrated price/brand strategy, using price as a language that speaks to your customers, helps you. You'll also find out how to penetrate new markets, and transform your organization into a price-brand powerhouse."If you want to improve your company's profitability, if you want to learn how price, brand and product can be linked to achieve this, then this book is a must read." - Robert A. Ferchat, Chairman and CEO of Bell Canada Mobility, retired, former president of Nortel Networks, Canada, and author of "Tangled Up in the Past". ""Winning the Profit Game" delivers on its promise to improve corporate profit performance." - Charles E. Lehr, General Manager Marketing (Chief Marketing Officer), International Division, ExxonMobil Corporation, retired. ""Winning the Profit Game" delivers valuable insights and tools for business leaders - from entrepreneurs in Silicon Valley to pricing professionals in Detroit and the leaders of Fortune 100 Corporations." - Jeffrey Depew, Silicon Valley serial entrepreneur (e.g. CEO MotionSense, Inc.), and former President of General Electric Electrical Distribution and Control, Asia/Pacific.

From the Back Cover

In the endless quest to boost your bottom line, you've done it all: re-engineering, downsizing, new purchasing strategies, TQM, CRM, automation, new sales channels and technologies. Problem is, everyone else has done it, too. And while these once-innovative techniques may still be helping your organization to hold its own, they are long past delivering the impact, excitement, and competitive advantage they initially offered. Smart managers and smart companies are already asking, what's next? How do we stay ahead?

In Winning the Profit Game, the authors offer a simple but powerful solution--to keep improving the bottom line, your organization must now shift its sights and focus on growing the top line. They also introduce the two fundamental tools for producing top-line growth: price and brand. The skill with which these tools are used varies widely from company to company, with most firms performing poorly. This means that anyone who takes the time to learn how to use them correctly can quickly establish a huge competitive advantage.

This comprehensive guide to maximizing profits offers sophisticated yet common-sense approaches that turn value into money and make pricing a logical, high-return activity, integral to the development of new products and services. It illustrates the absolute link between brand and price and explains why a superior pricing strategy cannot exist without a detailed brand strategy. It also shows you how to optimize price, brand, costs, and product development for any business, whether manufacturing or services. You'll discover how to win the profit game by integrating your pricing and brand strategies and growing your top line in any business environment, no matter how tough. You'll master the tools that will enable you to:

  • Use price as a language that speaks to your customers
  • Develop an effective, integrated price and brand strategy
  • Optimize prices to increase revenues
  • Manage ongoing revenues
  • Penetrate new markets using price as a competitive wedge
  • Transform your organization into a price and brand powerhouse

Complete with real-world price frameworks and success stories from a wide variety of industries, Winning the Profit Game also features instant access to critical strategies, tools, and techniques for busy managers who need to make key decisions in a hurry. It is the ultimate guide for business leaders like you, whose responsibility it is to grow the bottom line and emerge victorious in the war for profits.

How to use price and brand as strategic tools to boost revenues and maximize profits

Winning the Profit Game gives you instant access to tools and techniques that can increase profits, in boom times and bust, using smart top-line strategies that optimize price, costs, customer behavior, and volumes. You'll learn how to develop an effective, integrated price-/brand strategy, using price as a language that speaks to your customers, helps you . You'll also find out how to penetrate new markets, and transform your organization into a price-brand powerhouse.

"If you want to improve your company's profitability, if you want to learn how price, brand and product can be linked to achieve this, then this book is a must read."--Robert A. Ferchat, Chairman and CEO of Bell Canada Mobility, retired, former president of Nortel Networks, Canada, and author of Tangled Up in the Past

"Winning the Profit Game delivers on its promise to improve corporate profit performance."--Charles E. Lehr, General Manager Marketing (Chief Marketing Officer), International Division, ExxonMobil Corporation, retired.

"Winning the Profit Game delivers valuable insights and tools for business leaders - from entrepreneurs in Silicon Valley to pricing professionals in Detroit and the leaders of Fortune 100 Corporations."--Jeffrey Depew, Silicon Valley serial entrepreneur (e.g. CEO MotionSense, Inc.), and former President of General Electric Electrical Distribution and Control, Asia/Pacific.


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Most Helpful Customer Reviews
1 of 1 people found the following review helpful
Insightful! 3 Aug 2004
By Rolf Dobelli TOP 500 REVIEWER
Format:Hardcover
Re-engineering, downsizing TQM, CRM - you've seen them all. But businesses are still trying to find ways to lead their markets and beat their competition. The authors of this book suggest that pricing deserves the kind of attention that, a decade ago, your organization lavished upon procurement. They believe pricing strategy will be the important competitive differentiator in times to come. That is certainly plausible, and this book offers extensive guidance on how, when, why and according to what guiding principles businesses should change prices. Its copy editors should have been more diligent, because spelling and grammatical errors abound, but the book is nonetheless surprisingly readable. The book makes some valuable points, and we believe it merits marketing officers' scrutiny.
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Amazon.com:  5 reviews
18 of 20 people found the following review helpful
Maybe the best book yet on pricing and branding 20 Jan 2004
By Don King - Published on Amazon.com
Format:Hardcover
In fact I was surprised at how good it really was. Most business books are nothing more a string of anecodotes and platitudes, whereas here the reader gets a combination of pragmatic detail and genuine insight into what pricing can accomplish if unleashed. A great book to bring to the meeting room since the emphasis is on upper managament getting involved. From a technical perspective, it would appear the authors have spent time in the trenches, not just on their fannies in academia somewhere, as the stategy and tactics they recommend are fresher than anything to be found in Nagle or Dolan. As an example of this check out the chapter on "price as a language" for starters, then go from there.
3 of 3 people found the following review helpful
Using price to communicate with customers 22 Oct 2007
By Mark S. Nowotarski - Published on Amazon.com
Format:Hardcover
The different dimensions of price can be used as a language to communicate messages about your product to your customers.
growing revenue with price and brand 11 Dec 2008
By Andrew Everett - Published on Amazon.com
Format:Hardcover
Winning the Profit Game reveals the key to success: pricing, integrated with brand management, cost management, and product development. Whatever the goal - such as market penetration, customer retention, or increasing margins - "the strategy should be reflected in the price."

Branding is a central topic in the book. "A pricing strategy cannot exist without a detailed brand strategy." Just how important is the effect of brand on pricing? "If targeted at decisions and products for which the customer has the least familiarity and the least ability or inclination to research, brand can affect price dramatically - a 100-percent price premium is not uncommon."

Another recurring theme is segmentation. "A single price or brand approach is unlikely to work across multiple segments... Price sensitivity will differ by segment."

"What do our customers particularly value in our products or services? How is this reflected in our price structure? What specifically charges for or reflects that value?" These are a few of the questions posed in chapter 13, Fundamental Questions for Senior Management.

For organizations where discounting is out of control, the authors recommend a discount scorecard to bring some structure and purpose to discounts. In the sample given, a salesperson can give 10% due to a competitive bid, 10% if the client site is beyond a certain radius of the service center, 8% if the client's credit rating is CCC or below, plus up to 5% discretionary, not to exceed a maximum 30% discount. I thought it was peculiar that a customer would earn a discount for having a lousy credit rating. Maybe the authors were just checking to see if I was paying attention.

Additional topics include pricing methods, bundling, legal constraints on pricing, organizational structure, and compensation. This is a comprehensive book written by four pricing consultants, including a former CFO. The writing style is excellent, making it easy to read despite being packed with information.

My only nitpick is in a reference to price elasticity of demand. "During one period in the 1990s, the price elasticity of premium hosiery was 0.9, while the price elasticity of generics was 2.0. This clearly suggested that the premium brand could profitably take a price increase while the generics could not afford to do so." I think the authors should have mentioned that a price elasticity coefficient greater than one means demand is elastic; less than one means demand is inelastic. I had to dust off my old economics textbook to look that up.
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