Opinions expressed by Entrepreneur contributors are their own.
Forget about searching for that one perfect price for yourproduct. Instead, says pricing expert Rafi Mohammed in The Art of Pricing (Crown Business, $25),aim to find approximately right prices for several of your majorcustomer groups. Offer discounts to some; charge premiums toothers. Bundle to create high-priced packages for those who valuethem; use bare-bones bargains to attract new customers. Urgeemployees to sell higher-profit items, and limit their ability togive price breaks.
If you've been consumed by cost control, consider thinkingabout pricing instead. Moham-med cites a cross-industry study whereraising average prices by 1 percent meant 11 percent higherprofits, while a 10 percent average price hike increased profits100 percent. This conversational, easy and informative read isworth paying attention to.
Get Out the MagnifyingGlass
When one window in a building gets broken and stays that way, soonall the windows will be broken. That's the idea behind Broken Windows, Broken Business (WarnerBusiness Books, $21.95) by PR executive Michael Levine. Levinewarns that every detail is critical. As a warning, he points toKmart, which alienated once-loyal shoppers with poor goods and onlymoderately low prices. On the other hand, pampering passengers withleather seats and personal TVs has helped JetBlue soar. Is it theend of the big idea? Not quite, but the little things count,too.
Good Reads
Check out these titles on the "Best Bets FromEntrepreneur" shelf at Borders.
Launch It! How to Turn Good Ideas Into Great Products ThatSell
by Molly Miller-Davidson, JoAnne Stone-Geier and Michael B.Levinson, $21.95
Topgrading: How Leading Companies Win by Hiring, Coaching andKeeping the Best People
by Bradford D. Smart, $29.95
Copy This! Lessons From a Hyperactive Dyslexic Who Turned aBright Idea Into One of America's Best Companies
by Paul Orfalea and Ann Marsh, $25.95
Megatrends 2010: The Rise of Conscious Capitalism
by Patricia Aburdene, $24.95
