Top 7 good books on pricing strategy

Choosing your prices is one of the most important tasks you have as a business owner. The right price strategy will draw in customers and allow you to make a profit from each sale. 

On the flip side, pricing your solution or service too high or low can shrink your profits and diminish your brand value. There’s a lot of confusion around pricing, and it can be difficult to know which strategy is right for you. 

That’s why a good book on the subject could be your salvation.

We’ve compiled a list of the best books on pricing strategy, including:

• Handbook on the Psychology of Pricing by Dr. Markus Husemann-Kopetzky
• Priceless by William Poundstone
• The 1% Windfall by Rafi Mohammed
• How to Price Effectively by Utpal Dholakia 
• Power Pricing by Robert J. Dolan and Hermann Simon
• Price Management by Hermann Simon and Martin Fassnacht
• Pricing for Profit by Peter Hill

See also: your complete guide to different pricing strategies.

Even though prices are paid by people, too many companies focus on internal costs and external competitors choosing their prices. They assume that people behave rationally and always seek the best value. 

The Handbook on the Psychology of Pricing takes the focus back to the consumer. It offers a collection of psychological pricing and demonstrates how customers predictably behave irrationally. 

You can apply any of the 100 psychological effects the book explains and use them to influence your customers’ buying behaviour in your favour. 

If you want to get into the minds of consumers and find the best price based on what you find, this book is a must-have. 

Have you ever gone into a store and been delighted that the prices aren’t as high as you’d expected? 

That’s because designer brands display their most expensive items in the window, so everything else in the store looks like a bargain. 

Priceless is both actionable and entertaining, and explains how prices are essentially a collective hallucination. 

William Poundstone takes you through recent research on decision-making and leaves you wondering about what money and prices really mean. 

Rafi Mohammed is a leading pricing expert, and his book, The 1% Windfall, shows you how to reap a financial windfall and foster growth through pricing. 

This book shows you how the smallest changes to price can yield significant rewards. Backed by research and real-life examples, Mohammed offers guidelines you can follow to create a comprehensive pricing strategy for any product or service. 

If you want a mind-opening, clear blueprint for companies to price for profit and growth, go buy this book now. 

This book introduces the value pricing framework, which is a comprehensive method for making (and executing) pricing decisions. 

How to Price Effectively weaves together the latest thinking from research and proven best practices from leading pricing experts. It combines this with ideas from other fields like consumer behaviour and organisational psychology. 

You get to read about which factors to consider when making pricing decisions and how factors (costs, customer value, value proposition, etc.) work together. 

This book is the optimal read for anyone wanting a complete guide to pricing effectively.

This book takes you beyond conventional thinking to show the breakthrough system of power pricing. 

Power Pricing provides the tools by which you can become a “power pricer” who makes leaps in financial performance by enforcing the right strategy.

Drawing on their first-hand experience with companies worldwide, the authors show you the logic behind the actual power pricing practices the most successful companies use. 

Grab a copy to become a power pricer yourself!

In Price Management, the world’s foremost experts on pricing, discuss every aspect that’s involved in choosing and managing your prices effectively. 

This book goes beyond the traditional constraints of pricing theory and policy and presents a holistic approach to pricing strategy. You also learn how to implement your strategy tactically to see the best results. 

If you want a guide that takes you through every step of price management, this book is a perfect read!

As you learn more about setting prices, you’ll see your profit spiking in no time. When you start making more sales, you’ll need a simple and efficient system to track your income. 

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