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This episode originally aired on HBR ideacast in July 2011. Rafi Mohamad is a Pricing Strategy Consultant and author of the 1% Winfall, how successful companies use price to profit and grow. In this episode, you'll learn how pricing and demand interact and how dynamic pricing differs across industries. You'll also learn why your frontline workers can be a valuable source of market research to help you set the right price.

With rapidly changing markets and emerging technologies, setting the right price is harder than ever. But pricing strategy consultant Rafi Mohammed tells HBR IdeaCast host Sarah Green Carmichael that it’s possible to make better decisions about pricing if you understand how pricing and demand interact in your business and you have good market research to guide you.