The 1% windfall: how successful companies use price to profit and grow

Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices.The 1% Windfall reveals how modest incremental changes to an everyday business practicepricingcan yield significant rewards.

Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%.

Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%.The good news is that better pricing is more than simply raising prices.

Instead, the key is to offer customers a variety of pricing options.

This strategy is win-win: profits to companies and choices for consumers.

But how do executives and managers set the right price?

Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question.

This book offers guidelines that any companywhether a multinational conglomerate, a small business, or even a nonprofitcan follow to create a comprehensive pricing strategy for any product or service.

In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor.

The result is a mind-opening, clear blueprint for com-panies to price for profit and growth.