Manager's Tool Kit. Too often when managers think about pricing, the first question they ask is, What should the price be? In fact, what they should be asking is, Have we addressed all the considerations that will determine the correct price? In "How Do You Know When the Price Is Right?" Robert J. Dolan describes two broad qualities of an effective pricing process and provides eight steps to enable managers to develop and utilize such a process.

Letters to the Editor. Recent HBR articles generate comments from Allen Rosen shine, Marc Porat, Barry W. Sullivan, T. Michael Glenn, Edward McCracken and David Bagshaw, Jeffrey Pfeffer, Vernon Ellis, James P. Womack, and Jay W. Lorsch.

The fundamental goal of every business should be to achieve the full profit potential of each customcr relationship, argue Alan W.H. Grant and Leonard A. Schlesinger in "Realize Your Customers' Full Profit Potential." But only today can companies use information and technology tools to optimize what the authors call the value exchange: the connection between a companys financial investment in customer relationships and the return that customers generate in responding to that investment.