[PDF] Competing With Asking Prices eBook

Author : Benjamin R. Lester
Publisher :
Page : 43 pages
File Size : 10,63 MB
Release : 2013
Category : Auctions
ISBN :

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In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller receives no better offers. Despite their prevalence in a variety of real world markets, asking prices have received little attention in the academic literature. We construct an environment with a few simple, realistic ingredients and demonstrate that using an asking price is optimal: it is the pricing mechanism that maximizes sellers' revenues and it implements the efficient outcome in equilibrium. We provide a complete characterization of this equilibrium and use it to explore the positive implications of this pricing mechanism for transaction prices and allocations.

Author : Benjamin Lester
Publisher :
Page : pages
File Size : 20,8 MB
Release : 2016
Category :
ISBN :

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In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller receives no better offers. We construct an environment with a few simple, realistic ingredients and demonstrate that, by using an asking price, sellers both maximize their revenue and implement the efficient outcome in equilibrium. We provide a complete characterization of this equilibrium and use it to explore the implications of this pricing mechanism for transaction prices and allocations.

Author : Mack Hanan
Publisher : Amacom Books
Page : 188 pages
File Size : 44,29 MB
Release : 1991
Category : Business & Economics
ISBN : 9780814450369

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Presents a new approach to selling that emphasizes not competing on the basis of the best price, but the highest value--i.e. demonstrating to current and prospective customers that using your products or services will either cut their costs or improve their revenues. Distributed by Gale. Annotation copyrighted by Book News, Inc., Portland, OR

Author : Alan Blinder
Publisher : Russell Sage Foundation
Page : 412 pages
File Size : 45,20 MB
Release : 1998-01-08
Category : Business & Economics
ISBN : 1610440684

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Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.

Author : Lawrence L. Steinmetz
Publisher : John Wiley & Sons
Page : 274 pages
File Size : 16,73 MB
Release : 2010-12-23
Category : Business & Economics
ISBN : 1118040619

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Praise for How to Sell at Margins Higher Than Your Competitor "This is the complete book for both new and experienced salespeople and business owners to learn and re-learn the essentials for success. How to Sell at Margins Higher Than Your Competitors emphasizes the pricing strategies and tactics to increase the market share and profits of any organization. This is a book that is as important to presidents as it is to salespeople." --Bill Scales, CEO, Scales Industrial Technologies, Inc. "As the largest service provider in our industry, we have a significant market advantage. However, we constantly walk the pricing tightrope because, as this book so clearly states, 'business is a game of margins . . . not a game of volume!'" --John K. Harris, CEO, JK Harris & Company, LLC "If you live and die on price, this book could be your only lifeline." --Tom Reilly, CSP, author of Value-Added Selling and Crush Price Objections "How to Sell at Margins Higher Than Your Competitors successfully illustrates profitable sales truths to assist us in selling for maximum return. This book's well-researched, logical, and affirming words validate the simple fact that as a premium company we deserve premium margins. So, while our competitors reduce or match prices out of fear and scarcity, our managers, thanks to this powerful sales tool, can continue quoting and closing with profitable confidence." --Joe Bracket, President, Power Equipment Company "I learned a long time ago that it is pretty difficult to control what my competitors will do, but we must control what we do--like maintaining margins. This book is a 'wow!' that will help my salesmen crack bad habits. Sales organizations should design their entire training programs around the content in this book." --George C. Giessing, President, Brusco-Rich, Inc. "This energizing book is the 'right stuff' for every sales force. It should be a required study for every executive and sales professional who seeks to be successful." --David R. Little, Chairman and CEO, DXP Enterprises, Inc.

Author : United States. Congress. Joint Economic Committee
Publisher :
Page : 786 pages
File Size : 39,67 MB
Release : 1963
Category : Federal-city relations
ISBN :

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Hearing was held in New York City.

Author : David Gómez
Publisher : Bien Pensado
Page : 332 pages
File Size : 15,17 MB
Release : 2017-03-10
Category : Business & Economics
ISBN : 3961645981

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Stop Competing on Price is a differentiation manual to sell with dignity at fair prices. To extract the value your business generates. Many companies don't differentiate; and even if they do, fail at communicating it effectively. When a client doesn't perceive a difference, will decide based on price. In this book you will learn how to design and communicate your difference to stop competing on price. This is a book about differentiation. On how to transform an average business into a remarkable one. The problem is not to have a higher price, but not helping the client understand why. Don't be afraid of your competitors' price, but not being able to explain yours.

Author : Adrian Ryans
Publisher : John Wiley & Sons
Page : 314 pages
File Size : 33,55 MB
Release : 2009-08-27
Category : Business & Economics
ISBN : 0470687614

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Low cost competitors, who offer “good enough” products and services at very attractive prices, are currently significantly impacting the businesses of many leading companies, and some are starting to “move up” to challenge the traditional companies in their core markets. It’s only a matter of time before most companies will feel the pressure from these aggressive, cut-price competitors. Beating Low Cost Competition offers a step–by–step structured approach to help executives in traditional companies with premium brands think through the options for responding to their low cost rivals and select the most appropriate strategy to win in their chosen markets. By examining a wide-ranging group of companies from around the world, Adrian Ryans provides numerous examples of how different companies in different industries have responded to low cost competitors and analyses the effectiveness of their strategies. He also discusses the leadership and cultural challenges that many companies are facing as they take steps to respond to their low cost rivals. Ultimately, the insights gained from this book will lead to better and more profitable business decisions. Adrian Ryans is Professor of Marketing and Strategy at IMD, Lausanne, Switzerland. He has designed and taught on executive programs for organizations in North America, Europe, Australia and Asia, including GE, Bank of Montreal, Medtronic, Deloitte, Borealis, Saurer, Vestas, IBM, Boeing, National Semiconductor, BioWare, ASML, Holcim, Varian, Hoechst, Amgen, Fluke, LSI Logic, Hutchison Port Holdings and Qualcomm. He has also acted as a consultant for a number of leading global corporations.