How Successful Companies Use Price to Profit and Grow
By Rafi Mohammed
Harper Business, $27.99 199 pages
How much does it cost? That's as basic as business gets. Or is it? How do executives and managers set the right price? Seems simple enough, but a recent study found that a one percent increase in price raised average operating profits more than 11 percent. In The 1% Windfall , Rafi Mohammed, founder of Culture of Profit, a Cambridge, Mass.-based consultancy, argues that the key is to offer customers a variety of pricing options. The book offers practical guidelines that any sized company can follow to create a comprehensive pricing plan and increase profits without sacrificing customer loyalty. It's a tricky equation, but Mohammed offers a strategic solution.
