July 1st 2011

Pricing for Profit. How to command higher prices for your products and services. Dale Furtwengler.

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Pricing for Profit. How to command higher prices for your products and  services.  Dale Furtwengler.  2009. ISBN 0814415172.   This is a very useful book and it may have been the basis for quotes I have found in other later books. It is an easy to read combination of strategy and tactics with good examples .  Core to his thesis is that most owners do not know how to monetize the intrinsic value  in their offerings.  At Rocket Builders we could not agree more.

I was taken with his analysis of value and price buyers.  Over the past few weeks I used this idea while looking at various people in their sales role and their own approaches to pricing. Results have been very interesting to say the least.   In this book I have found lots of truths that others believe as well. E.g.

  • Using low prices to market your offerings sends the wrong signal to the market.
  • Price buyers are not loyal
  • Buyers will find the money if the offer is truly important to them
  • New product launches are when you can command premium prices, prices denied to the competition
  • Combine the bottom line impact with personal goal achievement and you can get the premium price
  • Bundling helps you achieve the price you want.
  • The use of options in premium pricing
  • Companies fail in marketing through telling what they do vs what the customer wants.

Most of the marketing material is of not use to the buyer and they are telling you so.  This book will be on my reading shelf for quite some time.  You should get it too.

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