Because I come from a markting/business development background, I view Price as more than just dollars and cents. At the very least, Price needs to includes client feedback, and I believe it also should include competitive intelligence. Perhaps this explains my advocacy for an expanded understanding of Price:
Strategic Pricing ~ a synthesis of information from Accounting & Finance,
Business Development & Marketing, Technology and Sales (i.e., Attorneys).
In this definition, many facets of a law firm–including attorneys–are necessary. Each function represents a piece of the law firm pricing puzzle that is integral to success. Accounting & Finance know the costs and budgets; Business Development & Marketing know the competition and promotion; Technology knows how to capture and process the data; and Attorneys are on the front lines selling the firm’s services and communicating the firm’s pricing strategy.
Each piece of the puzzle plays a role and can add value independently. However, the synthesis is so much greater than the sum of the parts: that is the value of Strategic Pricing.