Pricing is one of the most powerful -- yet underutilized -- strategies available to businesses. A McKinsey & Company study of the Global 1200 found that if companies increased prices by just 1%, and demand remained constant, on average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%, Tyson, 81%, Land O'Lakes, 58%, Whirlpool, 35%. Just as important, price is a key attribute that consumers consider before making a purchase.At most companies today, pricing is a mix of marking up costs, matching competitors, and doing things "the way that they have always been done." A simple change in the way that managers think about pricing can reap a financial windfall. The key to better pricing is to "think like a customer" and set prices to capture the value that consumers place on a product or service. The beauty of focusing on better pricing is that prices can be changed on Sunday night and new profits can start rolling in as early as Monday morning.