This week’s Resource Recommendation: The 1% Windfall: How Successful Companies Use Price to Profit and Grow by Rafi Mohammed
Two comments before I dive into my recommendation. This book was sent to me by a publicist who hoped I’d write about it, and I’m not finished reading it as I write this review.
I choose to recommend it because it deals with a topic that is a mystery to many in my world. While it may not be a need for all who are reading this, for those of you who do need it, I strongly recommend you read it.
The book is based on two basic premises:
- The best pricing approach is based on value (and there are many types of value people see in any potential purchase).
- Changing your pricing upward in even a small way – say 1% – can have a drastic impact on your bottom line.
The author is an economist, but you don’t need that background to read it. This is a “serious” book, yet it is written in an accessible and is even quite engaging because Mohammed shares examples and stories.
After the opening chapter on value pricing, the book has two other major sections – pricing strategy and, more importantly, pricing implementation.
I am finding this book interesting, important and practical – a pretty good trifecta.
This is the second book by this author on the topic of pricing. Perhaps the best recommendation is that I plan to buy and read the first one.