“Pricing is the moment of truth—all of marketing comes to focus in the pricing decision.”E. Raymond Corey, Industrial Marketing: Cases and Concepts (Englewood Cliffs N.J.: Prentice Hall, 1962)
For a farmer, a year’s labor is riding on what he does at the time of harvesting. For that reason, he rises earlier and retires later to pick up every grain. For a company, the revenues that sustain its existence all ride on harvesting the value it has created in the marketplace, and there is no other way to harvest that value except through its pricing. That is why Professor Corey had it exactly right in saying that “Pricing is the moment of the truth.” Indeed, it is the moment of truth for everything a company does.
Yet companies continue ...