Book review: Smart Pricing by Jagmohan Raju and Z. John Zhang

Smart Pricing, by Jagmohan Raju and Z. John Zhang of the Wharton School, have written the most engaging business book I may have ever read. Through ten short chapters they weave together so many different pricing innovations it made me feel guilty about how little I have considered pricing strategy. As they say in their introduction, many of us treat price as a given rather than as an important tool in our marketing strategy. The majority of the examples are business-to-consumer, however some concepts may be relevant for the clean-technology/renewable sectors. The ‘Snob Premium’ is certainly a concept that can be applied, and a twist may be the ‘Green Premium’, in which consumers may prefer to pay more for the environmental benefits even if the benefits actually are less expensive. However, even if there is little that can be applied to your specific business, the innovations described will inspire almost anyone with strategic responsibilities. The writing is tight and so compelling, it is the first business book, since Good to Great, that I could not put down.
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