The Oxford Handbook of Pricing Management

The Oxford Handbook of Pricing Management

Edited by Özalp Özer · Robert Phillips
Oxford University Press June 2012

Specifications

ISBN-13
9780199543175
Publisher
Oxford University Press
Publication
June 2012
Format
Hardback , 976 pages
Jurisdiction
U.K. ? Countri(es) for reference only

Details

  • A single and comprehensive source for research and practice. An indispensable reference for managers and researchers
  • Contributions from internationally recognized and well-respected experts
  • Accessible chapters that progress from introductory to advanced levels
  • Cross-disciplinary with chapters written by experts from different fields including marketing, operations management, and economics
  • Useful for managers, provides an overview of the main topics in both theory and practice of pricing management, key pricing concepts, management practices, training new employees, cross learning from different pricing practices in different industries, and benchmarking

The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.

Readership: Pricing managers, analysts, researchers, and academics

Table of Contents

Part I. Introduction
1: Özalp Özer and Robert Phillips: Introduction
Part II. Pricing in Selected Industries
2: Robert Phillips: Why are Prices Set the Way they Are?
3: Brenda A. Barnes: Airline Pricing
4: Robert Wilson: Electric Power Pricing
5: E. Andrew Boyd: Health Care Pricing in the United States: The Case of Hospitals
6: Sheryl E. Kimes, Robert Phillips, and Lisabet Summa: Pricing in Restaurants
7: Madhu Vudali and Andy Atherton: Pricing of On-line Display Advertising
8: Simon Caufield: Consumer Credit Pricing
9: Jon Zimmerman: Wireless Services Pricing in the US
10: Diogo Rau and Paul Willmott: For What IT's Worth: Pricing Internal IT Services
11: Robert Phillips and Graham Young: Television Advertisement Pricing in the US
12: Warren H. Lieberman: Pricing in the Cruise Line Industry
13: Edward Kintz: Less-than-Truckload Pricing
14: Michael Neal, Robert D. Pierce, Michael Freimer, and Sushil Verma: Pricing in the North American Protein Industry
15: Warren Bidmead: Wine Pricing in the United States
16: Yosun Denizeri: Pricing and Sales Practices in the Grand Bazaar of Istanbul
Part III. Pricing Fundamentals
17: Thomas A. Weber: Price Theory in Economics
18: Garrett J. van Ryzin: Models of Demand
19: Robert A. Shumsky and Praveen Kopalle: Game Theory Models of Pricing
20: Özalp Özer and Yanchong (Karen) Zheng: Behavioral Issues in Pricing Management
Part IV. Pricing Tactics
21: Robert Phillips: Customized Pricing
22: Shmuel Oren: Nonlinear Pricing
23: Yossi Aviv and Gustavo Vulcano: Dynamic List Pricing
24: Robert C. Blattberg and Richard A. Briesch: Sales Promotions
25: Rama Ramakrishnan: Markdown Management
26: Kalyan Talluri: Revenue Management
27: Richard Steinberg: Auction Pricing
28: Guillermo Gallego and Catalina Stefanescu: Service Engineering: Design and Pricing of Service Features
29: Murat Kaya and Özalp Özer: Pricing in Business-to-Business Contracts: Sharing Risk, Profit, and Information
30: Xin Chen and David Simchi-Levi: Joint Pricing and Inventory Management
Part V. Organization and Processes
31: Mike Simonetto, Larry Montan, Julie Meehan, and Junko Kaji: Structuring and Managing an Effective Pricing Organization
32: Thomas G. Jacobson, Greg Cudahy, Tiago Salvador, and Julian Short: Global Pricing Strategy
33: ManMohan S. Sodhi and Navdeep S. Sodhi: Using Lean Six Sigma to Improve Pricing Execution
34: Greg Cudahy, Thomas G. Jacobson, Tiago Salvador, Tiffany Gilbert, and Michelle Mahoney: Pricing with Confidence in Business-to-Business Settings
Part VI. Current Challenges and Future Prospects
35: Özalp Özer and Robert Phillips: Challenges and Future Prospects for Pricing Management

About the Author

Edited by Özalp Özer, Professor of Information System and Operations Management, School of Management, The University of Texas at Dallas, and Robert Phillips, Professor of Professional Practice, Columbia Business School and Chief Science Officer, Nomis Solutions

 

 

Özalp Özer has been a faculty member at Columbia University and Stanford University. His areas of specialization include demand and supply chain management, global production and distribution system design, contract and incentive design, capacity and inventory planning, and pricing management. His articles on these topics have appeared in leading academic journals such as Management Science, and Operations Research. National Science Foundation and Fortune 500 companies have supported his research and teaching activities. He is an active consultant to industries such as high technology, automotive. He has developed and commercialized algorithms that optimize market timing, pricing, and inventory replenishment decisions. He has been invited to present his work at conferences and has given lectures at universities such as Harvard Business School and London Business School. He received his Ph.D. and M.S. degrees from Columbia University.

Robert Phillips is also Director of the Center for Pricing and Revenue Management at Columbia University. Dr. Phillips has experience in pricing and revenue management in a wide variety of industries including airlines, hotels, rental cars, automotive, air freight, cruise lines, retail, and financial services. He is the former CEO of Talus Solutions and of Decision Focus Incorporated and the author of the widely used textbook, Pricing and Revenue Optimization. Dr. Phillips has served as a lecturer at Stanford University Business School and has published in many journals. He received his Ph.D. from Stanford University in Engineering Economic Systems.

 

 

 

 

Contributors: 
Andy Atherton, Brand.net
Yossi Aviv, Olin Business School, Washington University 
Brenda A. Barnes, Independent Consultant 
Warren Bidmead, Brown Forman Beverages
Robert C. Blattberg, Carnegie-Mellon University
E. Andrew Boyd, University of Houston
Richard A. Briesch, Southern Methodist University
Simon Caufield, Management Consultant 
Xin Chen, University of Illinois at Urbana-Champaign
Greg Cudahy, Accenture
Yosun Denizeri, Caché
Michael Freimer, SignalDemand Inc
Guillermo Gallego, Columbia University
Tiffany Gilbert, Accenture
Thomas G. Jacobson, Accenture
Junko Kaji, Deloitte Services LP
Murat Kaya, Sabanci University
Sheryl E. Kimes, Cornell Hotel School 
Edward Kintz, Hewlett-Packard's Business Intelligence Solutions 
Praveen Kopalle, Dartmouth College
Warren H. Lieberman, Veritec Solutions
Michelle Mahoney, Accenture
Julie Meehan, Deloitte Consulting LLP
Larry Montan, Deloitte Consulting LLP
Michael Neal, SignalDemand
Shmuel Oren, University of California at Berkeley
Özalp Özer, University of Texas at Dallas
Robert Phillips, Columbia University and Nomis Solutions
Robert D. Pierce, PriceSimplicity, Inc.
Rama Ramakrishnan, MIT Sloan School of Management 
Diogo Rau, formerly at McKinsey & Company
Garrett J. van Ryzin, Columbia University
Tiago Salvador, Accenture
Julian Short, Accenture
Robert A. Shumsky, Tuck School of Business at Dartmouth
David Simchi-Levi, Massachusetts Institute of Technology 
Michael Simonetto, Deloitte Consulting LLP
ManMohan S. Sodhi, Cass Business School, City University London
Navdeep S. Sodhi, Six Sigma Pricing
Catalina Stefanescu, European School of Management and Technology 
Richard Steinberg, London School of Economics
Lisabet Summa, Big Time Restaurant Group
Kalyan Talluri, Universitat Pompeu Fabra 
Sushil Verma, Enumerica
Madhu Vudali, Brand.net
Gustavo Vulcano, Leonard N. Stern School of Business, New York University
Thomas A. Weber, Ecole Polytechnique Fédérale de Lausanne
Paul Willmott, McKinsey 
Robert Wilson, Stanford Graduate School of Business
Graham Young, JDA Software International
Yanchong (Karen) Zheng, MIT Sloan School of Management
Jon Zimmerman,

Reviews

"This wide ranging book provides many important lessons on effective pricing. It bristles with empirical information, reviewing practices in industries from advertising and airlines to wine and wireless services. It then lays out the analytics underlying effective pricing, examining methodologies such as game theory and behavioral decision, and strategies and techniques, such as auctions, markdowns, and promotions. This book is thoroughly grounded in real world considerations, looking at matters from how to manage an effective pricing organization to how to conduct a global pricing strategy. Learn from this book in all aspects but one. Its price should have been set ten times as high. But then you should still buy it." - Richard Zeckhauser, Frank P. Ramsey Professor of Political Economy, Kennedy School, Harvard University

"As an emerging and explosive field, pricing management research has been approached from multiple disciplines with many industry applications. The strength of this book is that it provides a comprehensive view of all such different disciplinary approaches, and in some cases, cross-disciplinary and integrative works, with an eye of a diverse set of industry application. It is a great reference for any researcher in this field." - Hau Lee, Thoma Professor of Operations, Information and Technology, Stanford Graduate School of Business

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