There are plenty of books out there on the subject of pricing - it's true, some more readable than others! Try these 8 recommended books for size:
1. Negotiating with Backbone: Eight Sales Strategies to Defend Your Price and Value
PUBLISHED 15 OCT 2015, AUTHOR REED K. HOLDEN.
This could be the definitive guide for every pricing professional. It's a second edition, updated with powerful new strategies and tactics - giving you the tools to protect your margins and procure that deal. The eight strategies for all types of pricing negotiations are invaluable - they equip you to know your buyer, establish your foundation of value, allow you to avoid discounting and to develop "give-get" options, including value-added services. An essential resource for every B2B sales professional, customer-facing professional, and any executive responsible for leading successful negotiations.
Dr Reed K. Holden is the CEO/Founder of Holden Advisors. He's a pricing expert of world renown who helps clients build "bang-on" strategies to drive price leadership, selling backbone and profitable growth.
Available to purchase here: http://www.amazon.co.uk/dp/0134268415.
2. Confessions of the Pricing Man: How Price Affects Everything
PUBLISHED 14 OCT 2015, AUTHOR HERMANN SIMON.
Hermann Simon is perhaps the world's foremost pricing expert. In this book he explains how in every-day life we all make decisions on price, it's such a powerful and economic force - whether doing the weekly shop in the local supermarket or involved in the high-level negotiations of oil futures. This book describes pricing as a 'cocktail' - and explains all the ingredients necessary for success - the psychology, economics, tools, strategies and incentives.
The author describes some personal lessons learned about value, how people perceive it, and how people profit from it. This is an engaging and practical read. In the hype, it says "You will never look at pricing the same way again".
Available to purchase here: http://www.amazon.co.uk/dp/3319203991.
3. Pricing for Profit: how to develop a Powerful Pricing Strategy for your business
PUBLISHED 3 JULY 2013, AUTHOR PETER HILL.
The most significant factor affecting your profitability will be correct pricing. This book encourages you to 'stay strong' in pressured situations. Don't let your first instinct be to discount in order to undercut your competitors. This is a very readable, practical guide and uses real-life examples. If you implement the strategies shown it should make a huge difference to your bottom line, delivering strong business growth.
Peter Hill is a Partner in Mark Holt & Co Chartered Accountants and Healium LLP. He has worked on projects in hundreds of businesses, and in all of them Price was the critical factor to their success (or failure). He's an expert in his field.
Available to purchase here: http://www.amazon.co.uk/dp/0749467673.
4. Pricing: The Third Business Skill: Principles of Price Management
PUBLISHED 1 JUL 2013, AUTHOR ERNST-JAN BOUTER.
This book lays out clearly what is needed for pricing strategies/tactics. It also gives invaluable guidance on what a pricing organization should look like, all in a clear and concise manner. There are easy to understand models and examples on how to set optimum selling prices and high quality pricing function. The real-life companies explored include Google, Apple, BMW and LinkedIn. It's an inspiring book and blows away the cobwebs on pricing function.
Ernst-Jan Bouter is a price management expert who works for both start-ups and multinationals. He specialises in organizing and changing companies in a way that achieves lasting improvements in their pricing capability.
Available to purchase here: http://www.amazon.co.uk/dp/908206930X.
5. The Psychology of Price: How to use price to increase demand, profit and customer satisfaction
PUBLISHED 2 NOV 2012, AUTHOR LEIGH CALDWELL.
A good introduction to pricing. This book explains the science behind the topic - thankfully in a jargon-free language that explains easily applied strategies and techniques. It's full of tips and practical ideas to help businesses understand consumer behaviour and achieve higher sales. It includes a toolkit to work out the price point for any product. An easy read and told with the aid of an entertaining tale about the Chocolate Teapot Co.! Leigh Caldwell builds up a strong and coherent picture not just of how price psychology works, but also on how you can apply it in your own situation - there should be something for everyone in this book.
Leigh Caldwell was a mathematician but now describes himself as a 'cognitive economist'.
Available to purchase here: http://www.amazon.co.uk/dp/1780590075.
6. Brilliant Selling: What the Best Salespeople Know, Do and Say
PUBLISHED 31 MAY 2012, AUTHORS TOM BIRD AND JEREMY CASSELL.
The number of books on this subject are endless but this book (again) is easy to read and allows the reader to get inside the mind of both seller and buyer. It is full of practical tips and advice from successful business professionals. It could be used as a coaching book for those new to selling or a reference tome for those with more experience. It does start with a section on "you" and how your own thoughts, goals, personality and morals impact on your ability to sell. It stresses the need to always seek feedback and self-assess what was good/what could be bettered in your negotiations. It will be invaluable to improve your sales techniques.
Both Tom Bird and Jeremy Cassell are business trainers and keynote speakers.
Available to purchase here: http://www.amazon.co.uk/dp/0273771205.
7. Pricing Strategy: How to price a product
PUBLISHED 16 JAN 2012, AUTHOR BILL MCFARLANE.
This is an excellent (and very reasonably priced!) book. The author provides 9 rules and other information on how to price a product. There should be at least one strategy there for you to help increase your sales and profits. It also explains clearly how actually increasing your prices might be the best thing you've ever done!! It's a page-turner, (only 52 of them)! The author really knows how to keep you engaged.
Available to purchase here: http://www.amazon.co.uk/dp/146818119X.
8. Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures
PUBLISHED 17 FEB 2011, AUTHOR TIM SMITH.
This book will teach you about the influences that in the real world should guide your pricing decision making. It's a comprehensive, balanced book that emphasizes the stakeholder's importance in making decisions and highlights the key trade-offs to consider. It's very readable, substantial and logical in its development of the key aspects and gives plenty of good, practical examples.
The author examines the marketing, strategic, financial and economic issues you will need to weigh up in making your pricing decisions. It is illustrated with numerous relevant case studies, worked examples and graphics. There are optional appendices that do require some basic knowledge of algebra.
Available to purchase here: http://www.amazon.co.uk/dp/1111571295.
Amazon links have been provided as this is where the greatest level of book availability has been found. BlackCurve does not endorse Amazon or have any affiliation with Amazon. Other book stores are available.