A Priceless Book

Over the last few weeks a number of clients have asked me what I thought about the book “Priceless” by William Poundstone. I have had to be honest and tell them I have been unable to get a copy of the book. I have finally found a copy at an airport bookshop. Priceless, (ref 9781921640957 Scribe Publications Ltd) has caused a bit of a storm in the retail market place as it shows how price is a perceived value rather that a determined value by the consumer. It is a book that starts with the history and theoretical values and then gets into the nitty gritty for retailers. I recommend that you quickly scan through the theory and then get into the value area for a retailer. This is a book that then talks about the values and starts to help you sell more products. It will identify the fact that consumers are subjective rather than objective and then show how you can structure your prices to increase the percivied value of products you sell. This is a timely book ,especially as everyone will tell you the consumer is coming more price sensitive. I love the idea of increasing the price of cheaper products and placing them them next to more valuable products to make the more expensive products look cheaper. William Poundstone shows how price can be manipulated to sell more products.This is an imporatnt read for anyone in retailing today.