OFFERINGS
P2P - THE BOOK
"TSMRI - Traditional, Sales Driven, Modern, Risk-rewards based, Innovative
Is pricing science or an art?
This book dwells on the subject and provides you with treasure trove of organized information in concise and highly organized manner.
Pricing decision can make or mar a product, category, service or the whole company. It should be taken with utmost care and deliberated by stakeholders across the company. One might not get it right the first time and hence there is a scope for hypothesis creation and experimentation.
This book can be used as a reference to set up such experiment and results tracked.
Highly recommended as a quick reference guide."
- Amazon review
A ‘startup’ is a company that is confused about
1. What its product is.
2. Who its customers are.
3. How to make money.
– Dave McClure, 500Startups co-founder
Entrepreneurs believe that profit is what matters most in a new enterprise. But profit is secondary. Cash flow matters most.
― Peter Drucker, one of the most widely-known and influential thinkers on modern management
An entrepreneur without funding is a musician without an instrument.
― Robert A. Rice Jr., author
If I had to run a company on three measures, those measures would be customer satisfaction, employee satisfaction, and cash flow.
― Jack Welch, Chairman, and CEO of General Electric (GE)
The only people that a bank will loan money to are the very people who don’t need it.
– Mark Twain, author
The investing networks are getting tighter which will drive better collaboration between funds to invest collectively in companies, rather than competing for the investments.
– Anon
Solution
Most entrepreneurs are ‘price takers’ who accept the price set by the market and generate profits by driving efficiencies and reducing costs. They do not realise the power of pricing, and in case they are aware, do not know which existing strategies they can leverage in their business. Implementing a pricing strategy for a business that is already in existence has its own challenges and complexities.
This book explains why pricing is important, how it impacts business growth and profitability, which pricing strategies are being used by businesses, which challenges are faced in implementing pricing strategies, how to assess your current pricing strategy, and recommends an approach to execute a pricing strategy in your business.
The book takes a step-by-step approach to ensure that it fully covers pricing basics leading up to chalking out and implementing pricing decisions in the organization.
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What is a 'price'
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Price = Growth + Profitability
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Importance of Pricing
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Assess your current pricing strategy
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Impact of pricing on strategic decisions
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Variables involved in pricing
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Overview of pricing strategies
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Traditional pricing strategies
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Sales- driven pricing strategies
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Modern strategies of pricing
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Risk- Reward based pricing strategies
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Innovative strategies of pricing
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Pricing as a science and an art
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Challenges to pricing
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Executing pricing strategy
Written in simple language, this should be your first port of call for acquiring all rounded perspective on pricing.