Sarah Maxwell – The Price is Wrong
Description
Fair pricing is an issue that affects us all, whether we?re consumers or merchants. Throughout her career, Sarah Maxwell has seen how pricing practices?across a variety of different areas, from mobile phones and airline tickets to prescription drugs and gasoline?impact our everyday lives. Now, with The Price Is Wrong, Maxwell shares her deepest insights on this issue and examines both the psychological and sociological basis of fair pricing.
Table of Contents
Foreword ix
Acknowledgments xiii
About the Author xv
Part I: Background
Chapter 1: Introduction: “Play fair or I quit!” 3
Chapter 2: History: “A ‘just’ price is not God-given!” 13
Part II: Model
Chapter 3: Model: “Now I’m not just annoyed, I’m furious!” 23
Chapter 4: Norms: “That’s wrong, and we all know it!” 31
Chapter 5: Emotions: “You’re not being fair and I hate you!” 41
Chapter 6: Expectations: “That price is a rip-off!” 47
Chapter 7: Outcomes: “You should get what you pay for!” 55
Chapter 8: Attributions: “The seller is to blame!” 65
Chapter 9: Process: “Ya gotta play by the rules!” 73
Chapter 10: Punishment: “Revenge is sweet!” 85
Chapter 11: Power: “Beware a customer wronged!” 93
Chapter 12: Trust: “Fair price? I doubt it!” 101
Part III: Applications
Chapter 13: Modifications: “Sorry! The rules have changed!” 111
Chapter 14: Tipping: “Just don’t stiff the waiter!” 119
Chapter 15: Discrimination: “It’s unfair to charge me more than others!” 125
Chapter 16: Negotiations: “Split the difference. That’s fair!” 133
Chapter 17: Taxes: “Paying taxes is as American as disliking taxes” 145
Chapter 18: Culture: “But I never ordered any bread!” 155
Chapter 19: Practices: “So how is a company supposed to price fairly?” 165
Notes 179
Glossary 205
References 213
Index 233
Author Information
Sarah Maxwell, PhD, is an expert in fair pricing, with both academic and business experience in this field. She is an Associate Professor at Fordham University and is Co-Director of the Fordham Pricing Center. Dr. Maxwell is also Associate Editor of Pricing for the Journal of Product and Brand Management and has written for a variety of publications, including the Journal of Business Research, Journal of Economic Psychology, and the American Journal of Economics and Sociology. Previously, Dr. Maxwell was a vice president of marketing for Aramark and consulted with divisions in Europe and Japan. She has also consulted and taught in several countries including India, China, and Brazil.
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