Author Rafi Mohammed Says Don’t Discount the Relationship Between Price Strategy and Profits
Co-Hosts Brad Forsythe and Ray Schilens interview Rafi Mohammed, author of The 1% Windfall: How Successful Companies Use Price to Profit and Grow. Rafi has been working on pricing issues for the last 20 years. He is the founder of Culture of Profit LLC, a Cambridge, Massachusetts-based company that consults with businesses to help develop and improve their pricing strategy. He also holds the title of Batten Fellow at the University of Virginia’s Darden Graduate School of Business (in residence, Spring 2001). A frequent commentator on pricing issues to the print media, Rafi has also made prime time appearances on CNBC as an expert pricing commentator.
He is the author of The Art of Pricing (Crown Business, October 2005), which is the first managerially relevant book on pricing and has been translated into seven foreign languages. He is a co-author of Internet Marketing: Building Advantage in a Networked Economy (second edition – April 2003, McGraw-Hill/Irwin) which has been adopted by over 200 universities globally. Rafi’s follow-up pricing book, The 1% Windfall, was published by HarperBusiness in March 2010.
Rafi’s doctoral dissertation focused on bundling, one of the most popular yet least understood pricing tactics. He developed a new theoretical bundling model and presented the first empirical test on the profitability of bundling using data from the rock concert industry. This research was published in the Rand Journal of Economics, a leading academic economics journal. Rafi has previously worked on pricing issues at the FCC during the telecommunications deregulation and Monitor Group. He has testified as a pricing expert in six public policy commission hearings. Rafi was born in Milwaukee and raised in Cincinnati. He is an economics graduate of Boston University, the London School of Economics & Political Science, and Cornell University (Ph.D.).