About the Book
Pricing is frequently used as a key strategic lever for management to increase profitability. However, price can also be used as a lever for societal good. This book demonstrates how effective use of price can have positive societal impacts, such as helping to reduce carbon emissions, accelerating the adoption of eco-friendly products, and improving people’s health outcomes and quality of life.
This book, written by two leading thinkers on pricing strategy and practice, makes the important link between the ideals of purpose in organizations and the crucial tools of how to implement change using one of the fundamental levers at the disposal of the organization. It introduces the concept of leveraging the power of pricing for both profit and societal good and then clearly explains how it can be done. Price can be used to manage demand, incentivize consumer behavior, and influence change. The impact can be effective and quick, and it is not far-fetched to say that pro-social pricing can be utilized to preserve the environment, educate citizens, promote arts, alleviate poverty, and improve health. The book outlines how corporations, governments, civil society organizations, and collaborators can use pricing power to manage the adoption of products and services across B2B and B2C. Pricing strategies include innovating, unbundling, unpackaging, collaborating, implementing new monetization models, and applying learnings from behavioral pricing.
Executives of corporate and business strategy and those dealing with brand portfolios, sustainability, social and health equity will find profound insights in this book. It will also be valuable in executive training and for graduate students.
Table of Contents:
Part I: The forces behind purpose-driven pricing 1. Pricing for societal impact: why does it matter? 2. Seeking internal alignment and true costs 3. Innovation diffusion: pricing for growth 4. Behavioral pricing for a better world faster Part II: Bringing stakeholders along 5. The role of government policy 6. Bringing customers along 7. Ecosystems of collaborators 8. Future implications Part III: Case studies 9. Case studies: the seven tactics.
About the Author :
Saloni Firasta-Vastani is a seasoned consultant and a professor at Goizueta Business School at Emory University, and teaches pricing strategy and monetization curriculum to graduate, executive and undergraduate programs. She is a frequent speaker and commentator at industry conferences and on the radio, TV, and print media channels, such as NPR, CNN, Fox, ABC, and NBC.
Jagdish N. Sheth, Charles H. Kellstadt Professor of Marketing at Goizueta Business School at Emory University, has over 350 publications. A global marketing luminary, he is the recipient of PD Converse, Padma Bhushan, Parlin, and Wilkie Awards.
Review :
"In Purpose-Driven Pricing, the authors masterfully demonstrate how pricing can be a powerful tool for good. The book weaves together theoretical insights and practical wisdom, making this book an indispensable resource for marketers, strategists, NGOs, and entrepreneurs. This book is a must-read for any manager looking to align profit with purpose, offering innovative strategies that resonate deeply in today's socially conscious society."
Philip Kotler, Professor of International Marketing, Kellogg School of Management, Northwestern University
"This is an important work for leaders and managers of any business, corporation, government, or nonprofit illuminating the power of pricing to improve profit, growth, and societal good. Follow the rules provided, and your organization will thrive. And make the world a better place."
David Zalik, Founder and CEO, Greensky; Partner, Goldman Sachs
"Purpose-Driven Pricing is a must-read for anyone dedicated to making a tangible impact by aligning purpose and profits. As someone deeply involved in work to end global poverty, we found its insights on pricing strategies enlightening and practical to create win-win solutions for corporations and society. It's an excellent guide for aligning corporate financial goals with social objectives."
Michelle Nunn, President & CEO, CARE USA; Madhu Deshmukh, Vice President, Program Strategy & Innovation, CARE USA
"Corporations often view purpose and profit as two extremes of their priority list. Dr Vastani and Dr Sheth masterfully provide a step-by-step process to use pricing as a bridge to not only close this chasm but align them as enablers. The real-world examples and anecdotes help bring the strategies they discuss to life. A must read for any strategist or business leader who wants to make profit while driving corporate responsibility."
Rohit Verma, CEO Crawford & Company
"The depth and breadth of topics in Purpose-Driven Pricing cover so many topics critical to business leaders today: Internal Challenges, Innovation, Government Policies, and Customers, of course. This book will give you and your organization a great plan to align pricing strategies with corporate goals while benefitting employees, local communities, and our business environment as a whole. Things are changing rapidly in today’s economic setting; it’s your job to prepare your company for what’s new and what’s next."
Kevin Mitchell, President, Professional Pricing Society
"This book is breathtaking in its scope and depth as it explains how pricing can address societal challenges in ways that are adaptable, targeted, and impactful. Seeing how pricing works in different social and environmental contexts with consumers and other stakeholders with creative, effective approaches is eye-opening. This book provides a bright light for future social progress."
David Aaker, Vice Chairman at Prophet; Author of The Future of Purpose-Driven Branding
"Purpose-Driven Pricing is a pivotal read for anyone in the creative industry seeking to align their economic strategies with their artistic vision. This book offers invaluable insights into pricing models that honor the integrity of the art equity and the practicalities of commerce. It is a masterful blend of practical advice, industry expertise, and a deep understanding of the unique challenges those in the social sector face. A must-read for arts professionals everywhere."
Hala Moddelmog, President and CEO of Woodruff Arts Center (High Museum of Arts, Atlanta Symphony Orchestra, Alliance Theatre)
"This book exposes the folly of believing that pricing a company’s services or products is simply a matter of matching or beating a competitor’s price. Pricing can and should be strategic; it can be a mechanism for emphasizing and extending the core principles of the firm. This book should be required reading at many levels of our nation’s small and large businesses."
Larry Smith, Board of Trustee Marcus Foundation (past General Counsel, Home Depot)
"In today's market, integrating Diversity Equity and Inclusion (DEI) strategies into business models is not just a moral imperative but a competitive advantage. Purpose-Driven Pricing brilliantly encapsulates this ethos of aligning pricing with core values, ensuring accessibility while sustaining business growth. This book is a must-read for leaders striving to create purpose-driven economic models without sacrificing excellence or profitability."
Shan Cooper, CEO Journey Forward Strategies; Previous Chief Transformation Officer, West Rock Company; Previous VP & General Manager Lockheed Martin
"The idea of variable pricing in the cultural sector is becoming increasingly relevant as venues attempt to establish more sustainable operating models and foster greater equity. This is an important tool that cultural organizations will need to have in their toolkit as they plan for the future."
Henry Kim, Michael C. Carlos Museum Director and Associate Vice Provost, Emory University; Director and CEO Aga Khan Museum Toronto (previous)
"As a technologist, I see many doors opening for new strategic options in pricing practice. Purpose-driven pricing offers new thought and a rich roadmap for strategically leveraging these capabilities and neglected opportunities in service of commerce and society - for profit and social good."
Benn Konsynski, Professor and technologist, Goizueta Business School, Emory University
"The authors of Purpose Driven Pricing skillfully blend theoretical concepts with practical applications, making it an invaluable resource for businesses striving to innovate purposefully in competitive markets. Its unique approach to pricing as a key element of innovation is a game-changer, providing readers with the tools to create value for customers, organizations, and society. A must-read for anyone involved in business strategy and innovation."
Craig Dubitsky, Founder, Hello Products; Former Chief Innovation Strategist, Colgate-Palmolive
