This book makes basic pricing concepts more accessible to business students through a simple unified system for the setting and management of prices. Robert M. Schindler demystifies the formulas used in pricing and shows students how they can do the math necessary for making effective price-related decisions.
He demonstrates how pricing should be guided by the marketing concept, focusing on the needs and sensitivities of the customer, showing that an understanding of consumer behavior is central to core pricing questions. Chapters end with discussion questions and exercises to help reinforce what students have learned. Key Features * Provides a simple, consistent framework for setting and managing prices, applying Thomas Nagle's idea of a price-change breakeven analysis* Uses intuitive mathematical techniques and only a small number of formulas and mathematical concepts, to reduce student anxiety and reinforce understanding* Focuses on consumer needs and behavior, showing how the practice of pricing benefits from a customer focus as much as do marketing practices such as advertising or product design* Includes examples and illustrations that students can relate to from retail businesses and small businesses that are easy to understand and illustrate basic pricing principles* Grounds pricing discussion in practical theory, making consistent use of a small number of key concepts that students can master and therefore use An Instructor Teaching Site at www.sagepub.com/schindler provides password-protected resources including PowerPoint slides, answers to chapter questions, full-text SAGE journal articles, teaching tips, and figures and tables from the book in any easily-downloadable format.