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Author: Tridib Mazumbar
Publisher: World Scientific
ISBN: 9811204195
Category : Business & Economics
Languages : en
Pages : 377
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Book Description
The price of a product or a service is a critical element of the marketing mix. Price influences product demand, and the firm's revenue and profits. Prices also signal product quality and value, customer self-image, and the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts — current and emerging.Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology as well as the decision rules that consumers employ in framing of and responding to prices.As a practical step-by-step guide for firms, the book presents a comprehensive framework for pricing decisions. The framework illustrates how firms' pricing decisions are shaped by customer valuation of the product or service, firm cost, and competition within the category. Additional considerations include: channel arrangements, legal and regulatory limits, public sentiments, and the overriding strategy for the firm. Short cases and numerical examples help illustrate how these factors can be incorporated in firm making decisions.In addition to offering the theoretical foundation and practical guidelines for pricing, there are several distinctive features of the book.Pedagogically, the book takes a quantitative approach to pricing decisions and places a special emphasis on the utilization of data and analytics. Nevertheless, sound intuition and judgments remain a prerequisite.
Author: Tridib Mazumbar
Publisher: World Scientific
ISBN: 9811204195
Category : Business & Economics
Languages : en
Pages : 377
Get Book Here
Book Description
The price of a product or a service is a critical element of the marketing mix. Price influences product demand, and the firm's revenue and profits. Prices also signal product quality and value, customer self-image, and the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts — current and emerging.Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology as well as the decision rules that consumers employ in framing of and responding to prices.As a practical step-by-step guide for firms, the book presents a comprehensive framework for pricing decisions. The framework illustrates how firms' pricing decisions are shaped by customer valuation of the product or service, firm cost, and competition within the category. Additional considerations include: channel arrangements, legal and regulatory limits, public sentiments, and the overriding strategy for the firm. Short cases and numerical examples help illustrate how these factors can be incorporated in firm making decisions.In addition to offering the theoretical foundation and practical guidelines for pricing, there are several distinctive features of the book.Pedagogically, the book takes a quantitative approach to pricing decisions and places a special emphasis on the utilization of data and analytics. Nevertheless, sound intuition and judgments remain a prerequisite.
Author: Eisha Armstrong
Publisher: Vecteris
ISBN: 9781736929612
Category :
Languages : en
Pages : 172
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Book Description
Many professional services businesses want to create more scalable services and solutions but they often lack the tools and capabilities to successfully transition from a customized services model to a scalable solutions and products model. Productize outlines the unique pitfalls that professional services organizations face when they embark on a strategy of creating more scalable, often tech-enabled, products and services and it provides you with the tactics and tools to overcome these pitfalls. It is designed to be a practical playbook for any leader of a professional services business who wants to successfully accelerate growth.Productize draws on the 25+ years of experience that Eisha Armstrong has in successfully creating, launching and growing productized services. Eisha knows what works and what doesn't and she is passionate about making sure organizations learn from each other and avoid reinventing the wheel.Productize includes real-life case studies and stories featuring professional services leaders who have successfully led their organizations to create more scalable services and products. It also includes more than two dozen tools and templates to help your team implement the tactics so you don't have to start from scratch.In this book, you'll learn:1) How to turn shift your culture to embrace a product mindset2) The capabilities you to be successful and whether or not you should acquire them or grow them internally3) How much money to invest in exploring and building more scalable solutions and products4) How to ensure there is a viable market for your product idea5) How to sequence investments in new product development6) How to successfully source and work with developers and data scientists7) How to inexpensively test your ideas before investing in development8) How to win the hearts and minds of your sales team to ensure your new products are commercially successfulBonus: Key point summaries at the end of each chapter to help you lock in what you learnBonus: More than two dozen tools and templates to help your team implement the tactics so you don't have to start from scratch.
Author: Lawrence Sanders
Publisher: Business Expert Press
ISBN: 160649242X
Category : Business & Economics
Languages : en
Pages : 241
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Book Description
This book will focus on the up-front activities required for product and service differentiation, the learning methodologies that contribute to arriving at that differentiation, and the role that technology plays in implementing the process. The book will show how technology factors into such entrepreneurial activities as engaging in business planning and utilizing creativity and innovation, and how creative innovation, in turn, is achieved and enhanced through an understanding of two different modes of learning: "learning about" and "learning by doing". A successful product introduction depends on an efficient supply chain, a strong brand, and the ability of a manufacturer or provider to differentiate it successfully in the marketplace. New Product and Services Development demonstrates how differentiation, this last critical component, can be secured by the strategic use of technology and by engaging in two key learning methodologies.
Author: Rosanna Garcia
Publisher: CRC Press
ISBN: 1482203618
Category : Business & Economics
Languages : en
Pages : 414
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Book Description
This textbook teaches the key business and marketing principles needed to successfully design and launch new products and services in an international marketplace. The book emphasizes marketing research techniques that can help firms identify the voice of the customer and incorporate these findings into their new product development process. It addresses the role of social networks in innovation, open innovation strategies, and international co-development efforts of new products and services.
Author: Robert F. Erlandson
Publisher: CRC Press
ISBN: 1040062849
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
New laws, global competition, technological advances, and evolving societal values toward disability all demand the integration of universal and accessible design principles into the general practice of the design community. This growing international movement forces competitors to expand their traditional concepts of design and adopt these princip
Author: Anthony Ulwick
Publisher: McGraw Hill Professional
ISBN: 0071501126
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
A world-renowned innovation guru explains practices that result in breakthrough innovations "Ulwick's outcome-driven programs bring discipline and predictability to the often random process of innovation." -Clayton Christensen For years, companies have accepted the underlying principles that define the customer-driven paradigm--that is, using customer "requirements" to guide growth and innovation. But twenty years into this movement, breakthrough innovations are still rare, and most companies find that 50 to 90 percent of their innovation initiatives flop. The cost of these failures to U.S. companies alone is estimated to be well over $100 billion annually. In a book that challenges everything you have learned about being customer driven, internationally acclaimed innovation leader Anthony Ulwick reveals the secret weapon behind some of the most successful companies of recent years. Known as "outcome-driven" innovation, this revolutionary approach to new product and service creation transforms innovation from a nebulous art into a rigorous science from which randomness and uncertainty are eliminated. Based on more than 200 studies spanning more than seventy companies and twenty-five industries, Ulwick contends that, when it comes to innovation, the traditional methods companies use to communicate with customers are the root cause of chronic waste and missed opportunity. In What Customers Want, Ulwick demonstrates that all popular qualitative research methods yield well-intentioned but unfitting and dreadfully misleading information that serves to derail the innovation process. Rather than accepting customer inputs such as "needs," "benefits," "specifications," and "solutions," Ulwick argues that researchers should silence the literal "voice of the customer" and focus on the "metrics that customers use to measure success when executing the jobs, tasks or activities they are trying to get done." Using these customer desired outcomes as inputs into the innovation process eliminates much of the chaos and variability that typically derails innovation initiatives. With the same profound insight, simplicity, and uncommon sense that propelled The Innovator's Solution to worldwide acclaim, this paradigm-changing book details an eight-step approach that uses outcome-driven thinking to dramatically improve every aspect of the innovation process--from segmenting markets and identifying opportunities to creating, evaluating, and positioning breakthrough concepts. Using case studies from Microsoft, Johnson & Johnson, AIG, Pfizer, and other leading companies, What Customers Want shows companies how to: Obtain unique customer inputs that make predictable innovation possible Recognize opportunities for disruption, new market creation, and core market growth--well before competitors do Identify which ideas, technologies, and acquisitions have the greatest potential for creating customer value Systematically define breakthrough products and services concepts Innovation is fundamental to success and business growth. Offering a proven alternative to failed customer-driven thinking, this landmark book arms you with the tools to unleash innovation, lower costs, and reduce failure rates--and create the products and services customers really want.
Author: Roger More
Publisher: Routledge
ISBN: 1317100425
Category : Business & Economics
Languages : en
Pages : 209
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Book Description
Marketing High Profit Product/Service Solutions addresses one of the most exciting and growing strategic marketing opportunities facing product and service companies - ’bundling’. Many customers want bundled products and services which represent integrated solutions to their problems, rather than buying individual products and services piecemeal, and if you become that supplier it can transform a company. There are many outstanding examples: Magna International grew in several stages from a supplier of basic individual auto parts to a company manufacturing a product/service 'super-bundle'; ultimately sourcing and assembling the entire car itself. GE developed their business involving the supply of medical imaging machines to hospitals to become a 'super-bundler' of complete hospital radiological floor imaging operations planning, installation, and integration. IBM transformed their position as a supplier of individual hardware, software, and peripherals to companies into a product/service solution 'bundler' of increasing complexity, and finally into the 'super-bundle' of BPO (Business Process Outsourcing); representing an outsourced and complete integrated IT solution set for clients’ entire global operations. Roger More explores what was learned by these leading companies (amongst others) when they transformed their market strategies to become bundlers of complex integrated customer solutions. Over many years the author has developed and tested new concepts, maps and tools for use by a wide variety of managers in developing strategies for these bundled product/service solutions. His book now offers these maps and tools to all who invest in a copy.
Author: The Open University
Publisher: The Open University
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
This 3-hour free course explored how organisations manage their products and services, including new product development and existing offerings.
Author: Jessica Keyes
Publisher: CRC Press
ISBN: 143980320X
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Characterized by lightning quick innovation, abrupt shifts in technology, and shorter lifecycles, the marketing of IT products and services presents a unique set of challenges and often requires IT managers and developers to get involved in the marketing process. Marketing IT Products and Services is written to help busy IT managers and marketing managers get up to speed quickly and easily on what’s needed to develop effective marketing strategies and campaigns. Focusing on the unique issues involved, this one-stop resource provides everything needed to understand the roles, responsibilities, and management techniques essential for the development of successful strategies. It covers strategic market planning, targeting markets, researching markets, understanding the competition, integrating market and sales strategies, nuances of global markets, developing marketing budgets, pricing, and implementing marketing campaigns. A plethora of appendices included on the book’s downloadable resources allow you to get up and running right away. Aside from a complete marketing glossary, two complete marketing plans—one for a hardware product; the other for a software product—enable you to bypass the "scut" work of developing a marketing plan so you can focus on the creative aspects of marketing. Because a marketing plan is closely aligned with an organization’s business and strategic plans, this book provides you with templates for both of these, as well as a template for that all-important business plan executive summary. The downloadable resources also feature loads of fill-in templates including customer and competitor analysis surveys, sample press releases, letters of agreement, demographic and target market worksheets, and cost benefit forms. If you have a marketing need, this book has an effective template to meet that need.
Author:
Publisher: Research Publishing Service
ISBN: 9810854668
Category : Engineering design
Languages : en
Pages : 38
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Book Description
