One of the most important decisions a marketer is called upon to make is the setting of price. In addition to strategic considerations (price is, after all, one of the four Ps), price should always be selected with an eye towards how price affects unit sales. One can get help negotiating the tradeoff between price and units sales by using a simple model of linear demand or by understanding price elasticity. Of course, our carefully constructed demand curves fly out the window if the competition drastically changes their prices. Although price premium is a metric that we can use to track how our prices are changing relative to a competitive benchmark, the real challenge is that pricing is a game or dance in which our fate depends, in part, on what our competitors do. These metrics and concepts here will help managers meet the pricing challenge.
About the Authors xiii
Chapter 1: Introduction 1
Chapter 2: Share of Hearts, Minds, and Markets 11
Chapter 3: Margins and Profits 45
Chapter 4: Product and Portfolio Management 89
Chapter 5: Customer Profitability 129
Chapter 6: Sales Force and Channel Management 157
Chapter 7: Pricing Strategy 195
Chapter 8: Promotion 239
Chapter 9: Advertising Media and Web Metrics 263
Chapter 10: Marketing and Finance 305
Chapter 11: The Marketing Metrics X-Ray 323
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