By Rafi Mohammed Published May 5, 2010 11:00 a.m.
“There is a fundamental 'profit disconnect' in business today. Companies work to bring a product to market by investing significant effort and money in research and development, distribution, and marketing strategies. But when it comes to setting a price - how businesses get compensated for their hard work and financial risk - most companies drop the ball. Critical pricing decisions are often made using arbitrary 'this is the way we’ve always done it' methods. Companies are shortchanging themselves every day.”
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About Rafi Mohammed | Rafi Mohammed, Ph.D. is the author of The 1% Windfall: How Successful Companies Use Price to Profit and Grow (HarperBusiness, 2010). He has been working with pricing issues for the last twenty years. As founder of Culture of Profit LLC, a business-consulting company based in Cambridge, Massachusetts, he helps companies develop and improve their pricing strategy. Born in Milwaukee and raised in Cincinnati, he is an economics graduate of Boston University, the London School of Economics, and Cornell University, where he received his PhD.
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