Effectiveness in Context: A Manual for Brand Building

Effectiveness in Context: A Manual for Brand Building

by Les Binet and Peter Field

Binet and Field have analyzed 18 years of data (1998-2016) from the London-based Institute of Practitioners in Advertising’s IPA Databank, “the confidential data submitted alongside entries to the biennial IPA Effectiveness Awards competition.” This book presents their findings on what works best—in general and in various contexts.

Topics include market penetration, brand-building vs. sales activation, emotional vs. rational consideration, share of voice, pricing, and innovation.  Continue reading “Effectiveness in Context: A Manual for Brand Building”

The One Percent Windfall

the-1-percent-windfall

The 1% Windfall: How Successful Companies Use Price to Profit and Grow

by Rafi Mohammed

Rafi Mohammed is an economist who consults on pricing strategy. The 1% windfall refers to the large impact on operating profits resulting from small adjustments to price. “A study by McKinsey & Company of the Global 1200 found that if they increased their prices by just 1%, and demand remained constant, on average each company’s operating profits would increase by 11%.” The book is about creating a portfolio of pricing options to appeal to as many customers as possible, thus maximizing profit. Continue reading “The One Percent Windfall”

Priceless: The Myth of Fair Value

priceless-poundstone

Priceless: The Myth of Fair Value (and How to Take Advantage of It)

by William Poundstone

Traditional economics assumes people engage in rational transactions. Not surprisingly, people make irrational decisions all the time.  In Priceless, William Poundstone draws from research in psychophysics (the study of sensory perceptions) and behavioral economics to explore the subject of pricing. Concepts such as anchoring, priming, and prospect theory (adaptation, loss aversion, certainty effect) are explained. Continue reading “Priceless: The Myth of Fair Value”

Winning the Profit Game – Smarter Pricing, Smarter Branding

winning-the-profit-game

Winning the Profit Game – Smarter Pricing, Smarter Branding

by Robert G. Docters, Michael R. Reopel, Jeanne-Mey Sun and Stephen M. Tanny

Winning the Profit Game reveals the key to success: pricing which is integrated with brand management, cost management, and product development. Whatever the goal, such as market penetration, customer retention, or increasing margins, “the strategy should be reflected in the price.” Continue reading “Winning the Profit Game – Smarter Pricing, Smarter Branding”