{"product_id":"the-price-advantage-isbn-9780470481776","title":"The Price Advantage","description":"\u003cp\u003eA comprehensive look at creating pricing strategies that work in both good economic times and bad\u003c\/p\u003e \u003cp\u003eWritten by three preeminent pricing experts at McKinsey \u0026amp; Company, the \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eThe Price Advantage\u003c\/i\u003e is a practical pricing guide for the executive or pricing practitioner who wants to identify, capture, and sustain substantial pricing gains in their business.\u003c\/p\u003e \u003cp\u003ePricing is by far the most powerful profit lever that managers can influence. Yet few companies approach pricing in a way that fully capitalizes on its value. This \u003ci\u003eSecond Edition\u003c\/i\u003e, a major revision and extension of the first book, shows you what it takes to achieve \u003ci\u003ethe price advantage\u003c\/i\u003e in today's competitive and complex business environments. Based on in-depth, first-hand experience with thousands of companies, this book provides managers with a pragmatic guide through the maze of pricing issues. It reinforces why pricing excellence is more critical than ever today and then explains state-of-the-art approaches to analyzing and improving your own pricing strategy and execution.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplores the fundamental role of pricing infrastructure in achieving \u003ci\u003ethe price advantage\u003c\/i\u003e\n\u003c\/li\u003e \u003cli\u003eIncludes new topics such as software and information products pricing, lifecycle pricing, custom-configured products pricing, pricing of high-count product lines, pricing in distributed sales environments, \"razor\/razor blades\" pricing, and tiered products and services pricing\u003c\/li\u003e \u003cli\u003eRevisits the full range of classic McKinsey pricing tools, including the pocket price waterfall and value maps\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEngaging and informative, the \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eThe Price Advantage\u003c\/i\u003e will put this essential discipline in perspective.\u003c\/p\u003e  Preface.  \u003cp\u003eAcknowledgments.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE:\u003c\/b\u003e \u003cb\u003ePricing Fundamentals.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1: Introduction.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Power of 1 Percent.\u003c\/p\u003e \u003cp\u003eThe Price\/Volume Tradeoff.\u003c\/p\u003e \u003cp\u003eMarket Forces Add Pressure.\u003c\/p\u003e \u003cp\u003eThe Nobility of Pricing Excellence.\u003c\/p\u003e \u003cp\u003eWhy the Price Advantage Is So Rare.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2: Components of Pricing Excellence.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Integrated Approach.\u003c\/p\u003e \u003cp\u003eAn Interdependent Hierarchy.\u003c\/p\u003e \u003cp\u003eApplying to Your Company—Pinpointing the Opportunity.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO:\u003c\/b\u003e \u003cb\u003eExploring the Levels.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3: Transactions.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Pocket Price Waterfall.\u003c\/p\u003e \u003cp\u003eThe Pocket Price Band.\u003c\/p\u003e \u003cp\u003eThe Soundco Radio Company Case.\u003c\/p\u003e \u003cp\u003ePocket Margin Waterfall and Band.\u003c\/p\u003e \u003cp\u003eAlen Glass Company Case.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4: Customer Value.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMapping Value.\u003c\/p\u003e \u003cp\u003eCreating a Value Map.\u003c\/p\u003e \u003cp\u003eMaking Moves on the Value Map.\u003c\/p\u003e \u003cp\u003ePutting Customers on the Value Map.\u003c\/p\u003e \u003cp\u003eValue Profiling.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5: Market Strategy.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProfiting from Better Price Predictions.\u003c\/p\u003e \u003cp\u003ePlanning for an Expected Price Change.\u003c\/p\u003e \u003cp\u003eMaintaining Optimal Production and Capacity.\u003c\/p\u003e \u003cp\u003eImproving Pricing Conduct.\u003c\/p\u003e \u003cp\u003eInfluencing the Elements of Pricing Conduct.\u003c\/p\u003e \u003cp\u003eA Word on Followership.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6: Pricing Infrastructure.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcesses—What Are the Most Critical Types of Pricing Decisions for Your Business?\u003c\/p\u003e \u003cp\u003eOrganization—Who Is Running the Pricing Profit Center?\u003c\/p\u003e \u003cp\u003ePerformance Management—How Should We Recognize and Reward Pricing Performance?\u003c\/p\u003e \u003cp\u003eSystems and Tools—No Magic Bullet Exists.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE:\u003c\/b\u003e \u003cb\u003eUnique Events.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7: Postmerger Pricing.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Temporary Window of Opportunity.\u003c\/p\u003e \u003cp\u003eTremendous Opportunities at Each Pricing Level.\u003c\/p\u003e \u003cp\u003eAvoiding Common Postmerger Traps.\u003c\/p\u003e \u003cp\u003eAntitrust Laws.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8: Price Wars.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Price Wars Should Be Avoided.\u003c\/p\u003e \u003cp\u003eWhat Really Causes Price Wars.\u003c\/p\u003e \u003cp\u003eStaying Out of Price Wars.\u003c\/p\u003e \u003cp\u003eGetting Out of Price Wars.\u003c\/p\u003e \u003cp\u003eWhen a Price War Might Make Sense.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FOUR:\u003c\/b\u003e \u003cb\u003eExpanding the Boundaries.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9: Legal Degrees of Freedom.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePricing Decisions That Raise Red Flags.\u003c\/p\u003e \u003cp\u003eMinimizing Risks While Meeting Pricing Objectives.\u003c\/p\u003e \u003cp\u003eCalling in the Attorneys.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10: Lifecycle Pricing.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Makes Lifecycle Pricing Tough.\u003c\/p\u003e \u003cp\u003eThe Three Phases of Product Lifecycle Pricing.\u003c\/p\u003e \u003cp\u003eSustaining Returns Across the Lifecycle.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11: Pricing Architecture.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManaging Price Perception.\u003c\/p\u003e \u003cp\u003eInfluencing Customer Behavior.\u003c\/p\u003e \u003cp\u003ePrice Architecture Based on Supplier Role.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FIVE:\u003c\/b\u003e \u003cb\u003eAdvanced Topics.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12: Complexity Management.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSection One: Custom-Configured Products.\u003c\/p\u003e \u003cp\u003eSection Two: High-Count Product Lines.\u003c\/p\u003e \u003cp\u003eSection Three: Distributed Sales Models.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13: Tailored Value.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSection One: Price Segmentation.\u003c\/p\u003e \u003cp\u003eSection Two: Tiered Products and Services.\u003c\/p\u003e \u003cp\u003eSection Three: New Products.\u003c\/p\u003e \u003cp\u003eSection Four: \"Razor\/Razor Blades\" Offerings.\u003c\/p\u003e \u003cp\u003eSection Five: Solutions.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14: Software and Information Products.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnique Characteristics That Impact Pricing.\u003c\/p\u003e \u003cp\u003eExploring the Elements of Pricing.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART SIX:\u003c\/b\u003e \u003cb\u003eMaking Change Happen.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15: Pricing Transformation.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDesigning a Clear Change Program.\u003c\/p\u003e \u003cp\u003eAccelerating and Embedding Change.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 16: The Monnarch Battery Case.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Monnarch Battery Company.\u003c\/p\u003e \u003cp\u003eTransactions.\u003c\/p\u003e \u003cp\u003eCustomer Value.\u003c\/p\u003e \u003cp\u003eMarket Strategy.\u003c\/p\u003e \u003cp\u003eCapturing the Monnarch Pricing Opportunity.\u003c\/p\u003e \u003cp\u003eHard-Wiring the Change.\u003c\/p\u003e \u003cp\u003eEpilogue.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAPPENDIX 1: Pocket Price and Pocket Margin Waterfalls.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAPPENDIX 2: Antitrust Issues.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eU.S. Pricing Law.\u003c\/p\u003e \u003cp\u003eEU Pricing Law.\u003c\/p\u003e \u003cp\u003eAntitrust Information Sources.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAPPENDIX 3: List of Acronyms and Abbreviations.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAPPENDIX 4: About the Web-Based Tool: Periscope.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAbout the Authors.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eWALTER L. BAKER\u003c\/b\u003e is a partner in the Atlanta office of the international consulting firm of McKinsey \u0026amp; Company. Since joining McKinsey in 1998, he has worked with clients across multiple industries in the areas of pricing, sales, marketing, and strategy. With particular focus on the technology and industrial sectors, he has authored articles on pricing in \u003ci\u003eCMO\u003c\/i\u003e magazine, the \u003ci\u003eMcKinsey Quarterly\u003c\/i\u003e, and the \u003ci\u003eHarvard Business Review\u003c\/i\u003e.\u003c\/p\u003e\u003cp\u003e\u003cb\u003eMICHAEL V. MARN\u003c\/b\u003e is a partner in the Cleveland office of McKinsey \u0026amp; Company. He joined McKinsey in 1977 and has developed some of the most widely used analytic approaches for identifying and capturing opportunities in pricing. He has written articles on pricing that have appeared in publications including the \u003ci\u003eWall Street Journal\u003c\/i\u003e, the \u003ci\u003eNew York Times\u003c\/i\u003e, and the \u003ci\u003eHarvard Business Review\u003c\/i\u003e.\u003c\/p\u003e\u003cp\u003e\u003cb\u003eCRAIG C. ZAWADA\u003c\/b\u003e is a partner in the Calgary office of McKinsey \u0026amp; Company. Since joining McKinsey in 1997, he has worked with companies across multiple industries, helping them to identify and capture improvements in pricing. He is widely published in the area of pricing strategy, with articles appearing in the \u003ci\u003eHarvard Business Review\u003c\/i\u003e, \u003ci\u003eMergers \u0026amp; Acquisitions\u003c\/i\u003e, and the \u003ci\u003eMcKinsey Quarterly\u003c\/i\u003e.\u003c\/p\u003e  \u003cp\u003eFor all the advantages businesses pursue, there is one powerful advantage that is accessible to virtually every business—but realized by very few. That advantage is the price advantage. Pricing is far and away the most sensitive profit lever that managers can influence. Very small changes in average price translate into huge changes in operating profit, yet few companies are as disciplined and deliberate about pricing as they should be.\u003c\/p\u003e\u003cp\u003e In the most comprehensive and insightful treatment of pricing management available today, this \u003ci\u003eSecond Edition of The Price Advantage\u003c\/i\u003e shows companies how to use pricing excellence to outperform competitors and increase profitability in both good and bad times. Drawing on more than three decades of client success, three preeminent McKinsey \u0026amp; Company experts demonstrate why pricing is critical to bottom-line profitability and explain state-of-the-art approaches to analyzing pricing and building distinctive pricing capability. Working with colleagues and companies across the globe, they have helped develop leading-edge practical knowledge in pricing for clients in all major industries.\u003c\/p\u003e\u003cp\u003e Written in pragmatic terms, this \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eThe Price Advantage\u003c\/i\u003e continues to be the practical pricing guide for thoughtful general managers who have been tempted by the unrealized promise of improved pricing and, perhaps, even frustrated by attempts to translate pricing theory into bottom-line impact. It provides a structured approach for identifying where the most precious sources of untapped pricing opportunity reside in a business, along with practical, case-illustrated guidance on how to capture that opportunity.\u003c\/p\u003e\u003cp\u003e Updated throughout to reflect changes in the global pricing environment and advances in McKinsey’s pricing knowledge, this \u003ci\u003eSecond Edition\u003c\/i\u003e covers a host of new topics including software and information products pricing, lifecycle pricing, custom-configured products pricing, pricing of high-count product lines, pricing in distributed sales environments, and tiered products and services pricing. Also, the building of a sustainable pricing capability and a high-performing pricing infrastructure is covered in much greater detail than ever before.\u003c\/p\u003e\u003cp\u003e With emphasis on translating pricing theory into real improvements and bottom-line performance, the \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eThe Price Advantage\u003c\/i\u003e is designed to give today’s CEOs and business managers a competitive advantage in any economy.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990320201957,"sku":"NP9780470481776","price":84.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470481776.jpg?v=1761787342","url":"https:\/\/k12savings.com\/es\/products\/the-price-advantage-isbn-9780470481776","provider":"K12savings","version":"1.0","type":"link"}