Summary of The Dollarization Discipline

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The Dollarization Discipline book summary
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Rating

6 Overall

7 Applicability

6 Innovation

5 Style


Recommendation

Basically, dollarization is the simple but useful concept that you can quantify the benefit of any product or service and express it as a dollar value. Then you can use those value statements to enhance sales, strengthen client-supplier relationships, focus your marketing effort and set competitive prices. Consultants and authors Jeffrey J. Fox and Richard C. Gregory successfully explain why product and service providers should consider this simple idea. They also offer interesting chapters on pricing new and existing products. Their real-life examples alone make this book valuable to anyone who is involved in pricing, although the book is repetitive and poorly organized with parts of early chapters appearing again many chapters later. However, getAbstract recommends it for the value it adds: a useful explanation of how to make dollarization part of your strategy. Now put a price on that.

In this summary, you will learn

  • How dollarization can quantify and communicate the financial value that your products and services contribute to your customers;
  • How to use dollarization in marketing; and
  • How to use dollarization to set prices.
 

About the Authors

Jeffrey J. Fox is the author of How to Become a CEO and the founder and president of Fox & Company, Inc., a management consulting firm specializing in market strategy development and sales effectiveness. Richard C. Gregory is a senior consultant with Fox & Company and leads the company’s consulting and training practice, helping clients quantify the value they deliver.

 

Summary

Defining Your Product’s True Value
Businesses often make purchasing decisions based only on price. But price is just one of the variables that can influence why a customer buys. When customers buy lesser goods - say your product cost more but lasts longer - it is usually the sellers’ ...

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