Price is the one marketing-mix decision most often set by looking anywhere but at the customer – at cost, at a competitor’s number, at last year’s price plus an increase.

This book argues for starting from true economic value instead: what the offer is actually worth relative to the customer’s next-best alternative. It works outward from there through price customization, the fairness constraint that limits it, price sensitivity and elasticity, and the margin arithmetic that determines whether a price actually makes the business more money.

Written for the person who has to set a real price and defend it, not simply study the theory of how prices are set.