"Explains how to manage markets strategically and how to grow more profitably. Rather than calculating prices to cover costs or achieve sales goals, students will learn to make strategic pricing decisions that proactively manage customer perceptions of value, motivate purchasing decisions, and shift demand curves. This edition features a new discussion on harnessing concepts from behavioral economics as well as a more streamlined "value cascade" structure...

"Competing in existing markets is growing less profitable, so companies must find ways to create new markets. But despite much investment and commitment, companies find it extraordinarily difficult to establish new market spaces. Instead, they get caught in Red Ocean Traps."--Back cover.