Your company has developed a new product that you think will be a winner.
A lot of money has been poured into research and development, analysis of the competition and advertising.
But there is one key element you may have overlooked:
What do you charge for the product?
Wharton marketing professors Jagmohan Raju and John Zhang say companies frequently don't put anywhere near as much thought into pricing as they should. In their new book, Smart Pricing, Raju and Zhang argue that firms ought to engage in innovative pricing to achieve maximum profitability, and they show how companies like Google are doing just that.
