The 1% Windfall
How Successful Companies Use Price to Profit and GrowBook - 2010
The 1% Windfall reveals how modest incremental changes to an everyday business practice--pricing--can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%. The good news is that better pricing is more than simply raising prices. Instead, the key is to offer customers a variety of pricing options. This strategy is win-win; profits to companies and choices for consumers. But how do executives and managers set the right price? Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question. This book offers guidelines that any company--whether a multinational conglomerate, a small business, or even a nonprofit--can follow to create a comprehensive pricing strategy for any product or service. In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor. The result is a mind-opening, clear blueprint for companies to price for profit and growth.
Publisher: New York, NY : Harper Business, an imprint of HarperCollins Publishers, ©2010.
Branch Call Number: 658.816 MOHAMME
Characteristics: xxix, 224 pages : illustrations ; 24 cm
Alternative Title: One percent windfall