MARC Record from Library of Congress

LEADER: 03554cam a2200337 a 4500
001 2011031550
003 DLC
005 20120424092950.0
008 110725s2011 enka b 001 0 eng
010 $a 2011031550
020 $a9781107010659
040 $aDLC$cDLC$dDLC
042 $apcc
050 00 $aHF5416.5$b.V64 2011
082 00 $a658.8/16$223
084 $aBUS001010$2bisacsh
100 1 $aVohra, Rakesh V.
245 10 $aPrinciples of pricing :$ban analytical approach /$cRakesh V. Vohra, Lakshman Krishnamurthi.
260 $aCambridge ;$aNew York :$bCambridge University Press,$c2011.
300 $ax, 250 p. :$bill. ;$c24 cm.
520 $a"Pricing drives three of the most important elements of firm success: revenue and profits, customer behavior and firm image. This book provides an introduction to the basic principles for thinking clearly about pricing. Unlike other marketing books on pricing, the authors use a more analytic approach and relate ideas to the basic principles of microeconomics. Rakesh Vohra and Lakshman Krishnamurthi also cover three areas in greater depth and provide more insight than may be gleaned from existing books: 1) the use of auctions, 2) price discrimination and 3) pricing in a competitive environment"--$cProvided by publisher.
520 $a"Many businesses focus on driving volume or reducing costs rather than increasing price under the mistaken belief they have greater control over volume and costs than price. Yet, a 1% increase in price (holding volume fixed) has a greater impact on operating profit than a 1% increase in volume or a 1% decrease in cost. By not seizing the initiative on price, businesses abrogate decisions about price to competitors, customers, and the channel. A careful analysis and understanding of those same actors could help them price in a more profitable manner. Hence, this book, which is designed to communicate the fundamental principles of pricing. In marked contrast to other books on pricing, this one is based on economic theory. This is not to deny the value to be had from looking at pricing through other lenses. It is simply that these other lenses do not yet provide a systematic and organized way to think about pricing. Economic theory does. Its power is not in the provision of to-do lists or the Gradgrind-like accumulation of facts.8 Rather, it is in generating the right questions to be asked. Both our own experiences and that related to us by our students who have taken our classes has confirmed us in this view. A second point of contrast with other treatments of pricing is that we convey principles through stylized examples rather than anecdotes"--$cProvided by publisher.
504 $aIncludes bibliographical references and index.
505 8 $aMachine generated contents note: 1. Introduction; 2. Buyer behavior; 3. Estimating price response; 4. Uniform posted price; 5. Auctions; 6. Price discrimination; 7. Pricing and competition; 8. Bringing it all together; 9. Appendix on game theory.
650 0 $aPricing.
650 7 $aBUSINESS & ECONOMICS / Accounting / Financial.$2bisacsh
700 1 $aKrishnamurthi, Lakshman.
856 42 $3Cover image$uhttp://assets.cambridge.org/97811070/10659/cover/9781107010659.jpg
856 42 $3Contributor biographical information$uhttp://www.loc.gov/catdir/enhancements/fy1114/2011031550-b.html
856 42 $3Publisher description$uhttp://www.loc.gov/catdir/enhancements/fy1114/2011031550-d.html
856 41 $3Table of contents only$uhttp://www.loc.gov/catdir/enhancements/fy1114/2011031550-t.html