Behavioral Pricing

Description

In his book on Pricing, Kent Monroe (2003) opens with an old Russian proverb: “There are two fools in any market: One does not charge enough. The other charges too much.” That adage continues to be true. Sellers are unsure of how high a price is high enough. How much is too much. As a result, many companies still use simplistic formulae to determine their pricing structures rather than struggle with the problem of getting the price right.

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