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Principles of Pricing
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Book description

Pricing drives three of the most important elements of firm success: revenue and profits, customer behavior and firm image. This book provides an introduction to the basic principles for thinking clearly about pricing. Unlike other marketing books on pricing, the authors use a more analytic approach and relate ideas to the basic principles of microeconomics. Rakesh Vohra and Lakshman Krishnamurthi also cover three areas in greater depth and provide more insight than may be gleaned from existing books: 1) the use of auctions, 2) price discrimination and 3) pricing in a competitive environment.

Reviews

‘Pricing books are divided into two types. Economics texts cover pricing theoretically but rarely help the reader understand how to apply the concepts. Marketing pricing books explain ‘how to do it’ but rarely link the theoretical concepts to actual pricing decisions, often leading to incorrect pricing recommendations. The beauty of Vohra and Krishnamurthi’s book is that it succinctly but accurately combines both pricing theory and practice. The reader is left with an understanding of both how to price in practice and why. This book is a must for every pricing course and every practitioner who wants to improve his or her pricing.’

Robert C. Blattberg - Carnegie Mellon University

‘Setting the right price is crucial to business performance. Vohra and Krishnamurthi have managed to write the most sophisticated book on pricing.’

Philip Kotler - Northwestern University

‘An insightful guide to pricing that is deeply rooted in economic theory. Vohra and Krishnamurthi are experts at both pricing and teaching.’

Jon Levin - Stanford University

‘With the advent of the Internet, auctions have become a very important aspect of pricing strategy. That's why I enjoyed reading the excellent chapter on auctions in this impressive book.’

Subrata K. Sen - Yale School of Management

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