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This is a book for the practitioner, whether it is CEO, CFO, VP Sales/marketing. They do a very good job with strategy: set pricing and offerings establish list prices and base agenda
and tactics: actual transaction prices rules for negotiations holding to earned legitimate discounts, alignment with street price
They give you a model of change how to go in small steps from: cost plus value enhanced cost plus better market driven to value driven.
There is also lots of meat there for the in-the-trenches salesperson with a surprising (to most sales managers ) metric showing that you can expect maybe 38% of your prospects to be price driven, with the rest being relationship or value driven. They also show you how to best deal effectively with all purchasers including the poker playing purchaser . The case studies are good and easy to emulate. This is an easy to read, easy to use book. My only concern is that its been around for 3 years and I could have used it all the time. Put it on your Kindle and keep reading it over and over.
This is one of few pricing books that focuses on business markets.
What distinguishes this text as a pricing reference for any organisation selling in business markets is its ability to be understood, acted upon and profited from.
Pricing can be hard. And its confusing. Too often the seemingly healthy pursuit of sales, growth, share, or even cost recovery cause pricing and then profit to suffer. Customers want to ensure they extract full discounts. Competitors seem intent on destroying industry profits through aggressive discounting. And a response out of exasperation and no better alternative, only serves to throw fuel on the fire..
Optimal pricing is dependent on good strategy, segmentation, marketing, product development, sales, competitors, processes, controls, tools, metrics and incentives. And then committed leadership needs to create the right culture in your organisation to stick to the plan.
There are many technical (and very good) books on pricing that provide excellent instruction to pricing functions; however, this book transcends the pricing function and is accessible to executive, management and selling staff. The authors have managed to reduce the complexity of the price challenge into ten simple rules - simple to understand, simple to act upon, simple to get a quick and lasting improvement from - yet, at the same time, rules that form the necessary foundation from which your organisation can add its own unique approach to pricing.
Don't expect a detailed, technical description of how to execute the most complex new pricing structures. While providing an overview of how these structures have been effective for some organisations, this book deliberately keeps it simple - focussing on the most profitable opportunities. Adopting the latest risk-reward or hybrid pricing structures may be exciting; however, it may well be discounting creeping in through the back door. Holden and Burton simply explain the situations when increased sophistication may deliver benefits and the reasons why.
The authors concentrate on the mindsets, understanding customer value, the reality of business buyer behaviour, competitive strategies, and approaches to negotiation that underpin success. Once a solid foundation is in place, organisations are much better placed move to fancier pricing structures if they will create advantage.
Because the book concentrates heavily on organisational mindsets and because the authors choose their words very carefully it is deceptively profound. I find myself rereading to sharpen my thinking and to extract more clarity.
Not your standard pricing text.
Note to readers: I have been fortunate to work with Reed and Mark; however, submit this review unprompted.
Reed Holden and Mark Burton's Pricing with Confidence makes the complex topic of pricing strategy understandable and usable to businesses of all industries and sizes. Many of the examples are easily transferrable from one industry to the next. Their approach is logical and rational and can be adapted to a sole proprietor with an entrepreneurial idea to the largest of companies. The only thing, I severely disliked about the book was the poker analogy which runs throughout the book. Business, unlike poker, is not a zero-sum game. I understand the analogy they are trying to make, but, in my opinion, it detracts from the overall value of the ideas presented, hence the four stars.
I've trained almost 1000 sales, marketing and finance professional in pricing in Fortune 50 businesses over the past decade. While there are many very good pricing books out there, few books make pricing simple and approachable enough for the masses. This is the book that takes the complexity out of pricing so that ordinary business people can understand it and take action. It's a must read for a broad range of people - from sr. executives to the account managers negotiating with difficult customers. There is something in here for anyone touching pricing in a B2B market.
As a business owner I am continually looking to expand my knowledge & understanding of the variuos aspects of running a business where I have little formal business or management training. Having been introduced to this book by my Business Coach, and having read the positive reviews on Amazon, I chose to purchase it as Kindle book.
I found the content of the book to be extremely informative, and it provided me with a number of new perspectives on the area of pricing. I have commenced implementing a number of the ideas I obtained from this book in my business, and feel more confident about how I approach pricing my services.
On the issue of reading this book on a Kindle, I'm afraid my experience was less than satisfactory. The Kindle version of the book does not appear to take advantage of the various features for navigating an electronic document which are available and which I have used on other Kindle books. This, in and of itself, was only a minor inconvenience. A greater annoyance was the difficulty experienced in reading the many charts, diagrams & sketches. Most of these were unreadable on the Kindle without altering the orientation of the page and/or text size, all of which settings had to be changed back in order to continue reading the remainder of the document. In addition the sketches & diagrams were often located a number of pages away from the position in the text where they were first referred to. This is understandable in the context of a printed document, however for an electronic document it would not be unreasonable to find sketches/diagrams located closer to the relevant text.
I highly recommend this book to business owners who wish to learn more about pricing their products or services, in particular those of us who have entered the business world without any business or management education/training. I would, however, recommend that the hard copy be purchased over the electronic version.
The title matches the content inside of the book; you really will learn how to price with confidence. It is excellent for a company or corporation with salespeople as is often referred to in the text. There is lots of useful information on setting prices for your product or service, although the author doesn't tell you what to charge, that is entirely up to the company. As a small business person, it didn't suit my needs, but if I owned a large company with salespeople, I would use this book for sure.
The book has very limited scope. It is very good for increasing profitability of B2B sales and for optimizing already existing market activities with established customers. It says nothing about B2C pricing and nothing about pricing new product or pricing without established customer relations.
As a sales trainer, I view things from how salespeople deal with clients especially in competitive situations. PWC is loaded with nuggets on how to avoid getting into a price war with a competitor(s) and how to better position your product's value and not its price. I was hoping for a bit more on the 'value creation' side; examples on how to develop quantitative approaches to position. That aside, this is a must read.