Cover image for Full price : competing on value in the new economy
Title:
Full price : competing on value in the new economy
Author:
Winninger, Thomas J.
Personal Author:
Publication Information:
Chicago : Dearborn Trade, [2000]

©2000
Physical Description:
xvi, 198 pages ; 24 cm
General Note:
Includes index.
Language:
English
ISBN:
9780793139545
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HF5415.157 .W56 2000 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

Enormous challenges face every business intending to compete in the new economy. To truly succeed, businesses need to stop competing on price in order to watch their profits soar. Meeting the highest needs of a business' premium customers, according to master business strategist Thomas J Winninger, is the secret. Winninger encourages companies to ask, What is my best customer really buying from me?. In Full Price, businesses can learn how to put Winninger's proven strategies to work to: * Define the essence of the business, the one thing that is the company's prime advantage * Communicate the tangible value of the product or service to get full price * Benchmark the uniqueness based on the differences * Anticipate the changing needs of the premium customers


Reviews 1

Choice Review

Winninger, author of several business strategy books, presents a compelling formula for maximizing profit. His argument is based on a study of several innovative companies (e.g., Ace Hardware, Trek Bicycle, Kodak, and Hershey) and is relevant to a spectrum of companies with widely varying products. To achieve "full price" and in turn maximize profits, the author advises companies to shed reliance on past business practices, particularly negotiation, which in the author's view can be detrimental to the bottom line. Winninger contends that negotiating does not enable a company to charge and receive full price for its product; rather, it only results in a lower price. Instead, the company must set itself apart from the competition. This is best done not by manipulation of price (and its inevitable lowering) but by creating unique value and a distinctive niche that customers associate with a company's products. To effectively employ this strategy, the author stresses the importance of understanding customers' perception of a product being offered and continuing to meet their evolving needs. To this end, he emphasizes the importance of employing technologies that can enhance customer relationships. This volume is appropriate for senior-level undergraduate and MBA students as well as professionals. A. Tavakoli; Fayetteville State University


Table of Contents

Prefacep. xi
Introductionp. xiii
1. Maximum Value Perceptionp. 1
Focus On "One Thing"p. 1
Defining Maximum Value Perceptionp. 2
Determining and Achieving Maximum Value Perceptionp. 5
Summaryp. 10
2. Leading the Fieldp. 11
Building an Advisory Boardp. 14
Branding Yourself, Your Product, or Your Servicep. 19
Benchmarking Your Processp. 24
Summaryp. 26
3. Selling the Programp. 27
Focusing On What the Product or Service Does, Not What It Isp. 29
Emphasizing the Way the Product or Service Is Bought or Soldp. 32
Recognizing the Importance of What Is Done after the Salep. 37
Summaryp. 41
4. Vertical Integrationp. 43
Creating Packagesp. 45
The "Magic of 3"p. 49
Valuating the Choicesp. 50
Summaryp. 53
5. Segmenting Your Services to Targeted Customersp. 55
Recognizing the Different Customer Segments That Exist for Your Product or Servicep. 56
The Determination of Categories within Customer Segmentsp. 60
The Creation of Benchmark Responses to Customer Categoriesp. 66
Summaryp. 70
6. Owning the Customer's Buying Cyclep. 71
Offering Accumulative Incentivesp. 74
Effectively Managing the Customer's After-Purchase Needsp. 79
Proactively Anticipating Future Purchasesp. 81
Summaryp. 85
7. Educating the Customerp. 87
Educating Customers about What the Product or Service Doesp. 88
Educating Customers about How to Buy from Youp. 94
Educating Customers about the Application of Their Highest Needp. 98
Summaryp. 100
8. Identifying Your Destinationp. 101
The Changing Profile and Needs of Your Customer Universep. 103
The Competitive Universe in Which Your Customer Shops For and Buys Your Product or Servicep. 107
The Specific Technologies and Their Rate of Effectiveness Providing Access to Your Customer Universep. 111
Summaryp. 115
9. Promoting Differencesp. 117
Identify Your Differencesp. 118
Demonstrate Your Differencesp. 120
Communicate Your Differencesp. 123
Summaryp. 125
10. Substantiating Value, Not Pricep. 127
Identifying the Process to Achieve Full Pricep. 129
Identifying Elements of Tangible Value That Support Full Pricep. 130
Creating a Value Statementp. 132
Summaryp. 135
11. Living the Brandp. 137
Live Your Brand Inwardly and Outwardlyp. 139
Long-Term Focus and Short-Term Actionp. 142
Brands Cannot Be Everything to Everybodyp. 144
Summaryp. 147
12. Exploiting Technologyp. 149
The Internet and Technology as Information Vehiclesp. 153
The Internet and Technology as Communication Vehiclesp. 155
The Internet and Technology as Complementaryp. 157
Summaryp. 159
13. Forging the Indestructible Systemp. 161
Turn Your Idea into a Systemp. 162
Make the System Functionalp. 163
Build Your Organization around the Attributes of the Systemp. 166
Summaryp. 169
14. Building the Right Teamp. 171
Tailor Your Employees to Your Company's Functionsp. 173
Excite Your Employees for the Long Termp. 174
Recruitment as an Ongoing Processp. 177
Summaryp. 179
15. The Final Imperativep. 181
Endnotesp. 185
Indexp. 191

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