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In Smart Pricing, Wharton professors and renowned pricing experts Jagmohan Raju and John Zhang offer a powerful alternative to traditional pricing models. The authors focusing on a new set of influencer in pricing strategy: consumer psychology, economics, and marketing. To do so, they draw on their own breakthrough pricing research, as well as their most recent work helping enterprises rethink their approaches to pricing. Raju and Zhang make pricing more tangible and concrete by revealing innovative strategies that are helping companies create and capture more value and more new customers. Readers will discover restaurants where customers set the price… how Google and other high-tech companies have used pricing to remake whole industries… how executives in China have made an art of initiating and fighting price wars, in spite of the conventional Western wisdom that price wars are risky. Replete with examples from contemporary business, this book heralds a revolution in how companies establish pricing and measure its effectiveness. Salient Features Use the latest knowledge in consumer psychology and economics to establish pricing that consistently maximizes value. Revolutionary pricing techniques that go beyond the simplistic models that leave both money and opportunity on the table Powerful insights into everything from subscription-based pricing to “snob premiums” and the true value of “free Revolutionary pricing techniques that go beyond the simplistic models that leave both money and opportunity on the table. Draws on state-of-the-art research and consulting by two of the world's leading pricing experts, The Wharton School's Jagmohan Raju and John Zhang.