#599 - John Zhang on Inducing Behaviors, Monopolies, and The Profit Lever That Matters
The Tai Lopez Show
Tai Lopez
4.8 • 6.9K Ratings
🗓️ 27 January 2022
⏱️ 44 minutes
🧾️ Download transcript
Summary
If you want to optimize your pricing and make your business more profitable, this will be the most important podcast you'll ever listen to. Wharton Professor John Zhang and author of the book Smart Pricing is someone I consult with regularly. His insights about pricing have helped me scale the brands I’ve acquired, such as Pier 1, Dressbarn, and Linens’n Things.
In this episode you'll learn:
- Why pricing is the most important factor in bringing in more revenue
- What type of pricing does NOT work
- How to price service-based businesses such as marketing agencies
- And much more...
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Transcript
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| 0:00.0 | Okay, my guest today is Professor John Jang. He is a Wharton Professor, but more importantly, he is one of the world preeminate experts on pricing stuff. |
| 0:17.0 | He's got two PhDs. |
| 0:20.0 | How about that? |
| 0:21.0 | Two PhDs. |
| 0:22.0 | You buy one, get one free thing. |
| 0:23.2 | But no, he teaches at Wharton, which is obviously one of the most respected business |
| 0:29.4 | schools, and his book Smart Pricing is something that I've been recommending for years. |
| 0:34.8 | It's on my Thai Lopez.com slash books. |
| 0:37.8 | It's in my top 50 books everybody should read. |
| 0:40.9 | So we're going to just have a little talk right before we |
| 0:44.0 | got on camera. Let's start there because it's controversial. Uh-huh. Will Durant, |
| 0:49.8 | the famous writer said that nations are born stoic and die Epicurean so they're born hard working and they die when they party too much |
| 0:59.2 | You're also an expert on China. |
| 1:03.0 | So we were talking about how China is really, |
| 1:08.6 | how you see China growing. |
| 1:10.7 | Forbes just this year listed, said that China has. growing. that in the US for sure. So when you go back and forth to China, |
| 1:25.0 | what do you see as the main difference |
| 1:26.7 | that the US and other countries |
| 1:28.7 | are going to have to do to keep up with China? |
| 1:32.0 | That's a really very good question, Ty. |
| 1:34.7 | I think that before I answer your question, |
| 1:37.5 | I do want to make a couple of points. |
... |
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