Price Management

In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)

The financial services industry is undergoing a period of dramatic change. Deregulation has created an ultra-competitive marketplace and recent challenges like the worldwide subprime crisis, SEPA and Basel II have only intensified the need for financial services providers to shift their focus to customer centric Smart Profit GrowthTM strategies. Price Management in Financial Services shows how to utilize the modern techniques of value-based pricing to design professional pricing processes that go beyond the industry's current norm of purely risk and cost based pricing. The authors provide insight into strategic pricing concepts such as market segmentation, product bundling, multi-channel pricing and non-linear pricing and give an overview of advanced price optimization methods. The book serves as a step-by-step guide to long term profitable growth through professional pricing by familiarizing the reader with the concepts of price-response function management and price elasticity of demand. The book also includes a number of implementation strategies to incorporate Power Pricing into financial services institutions and includes a large number of Simon-Kucher & Partners' international case studies that illustrate the enormous profit potential that lies in professional pricing.

This book demonstrates how to transform pricing, often considered the neglected aspect of marketing, into the most influential marketing tool that positively impacts the company's profits in a sustainable manner. Ultimately, every aspect of marketing is reflected in the price, as it represents the customer's value exchange for the other three value-creating marketing instruments: the product (functional value), communication (emotional value), and distribution (availability). The authors present the essential framework conditions and fundamental principles of active price management. They specifically emphasize those aspects that have proven particularly relevant to business practice through the Executive Education program at the University of St. Gallen (HSG).

Over the past four decades, business and academic economists, operations researchers, marketing scientists, and consulting firms have increased their interest and research on pricing and revenue management. This book introduces the reader to a wide variety of research results on pricing techniques in a unified, systematic way and at varying levels of difficulty. The book contains a large number of exercises and solutions and therefore can serve as a main or supplementary course textbook, as well as a reference guidebook for pricing consultants, managers, industrial engineers, and writers of pricing software applications. Despite a moderate technical orientation, the book is accessible to readers with a limited knowledge in these fields as well as to readers who have had more training in economics.

While information security is an ever-present challenge for all types of organizations today, most focus on providing security without addressing the necessities of staff, time, or budget in a practical manner. Information Security Cost Management offers a pragmatic approach to implementing information security, taking budgetary and real

In a world of changing lifestyles brought about by new services, technology and e-commerce, this book enters the arena of contemporary research with particular topicality. Integrating both theory and real world practices, Ng advances the latest concepts in pricing and revenue management for services in a language that is useful, prescriptive and ye

The practical guide to using pricing and profitability management to build a better business A comprehensive reference for any business professional looking to understand the capabilities and competencies required for effectively managing pricing and profitability, Pricing and Profitability Management explains how to determine the right approach, tools, and techniques for each of six key categories (pricing strategy, price execution, advanced analytics and optimization, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness). Exploring each category in detail, the book addresses how an integrated approach to pricing improvement can give a sustainable, competitive advantage to any organization. The ultimate "how to" manual for any executive or manager interested in price management, the book presents a holistic, comprehensive framework that shows how integrating these pricing categories into a cohesive program leads to impressive gains that cannot be achieved through a single-pronged approach. Presents a comprehensive framework for more effectively managing pricing and profitability Identities the six key categories of pricing and profitability management Shows you how to gain a competitive edge by managing pricing and profitability Taking a comprehensive view of pricing, companies can position themselves to tap a vast source of shareholder value—the ability to set and enforce profitable prices, not just once, but again and again in response to marketplace changes and evolving business needs—and this book will show you how.

Over the last two decades, cost management has been an area of dynamic change and development. This is evident in the extensive inventory of new, high-profile techniques that have emerged. With cost management now firmly established as a distinct sub-discipline within management accounting, The Routledge Companion to Cost Management is a timely reference volume covering both practical developments and research in this area. Topics covered include: Cost control issues Cost analysis and decision making Cost management systems Environmental cost management With chapters from an international team of contributors, this prestigious companion will prove an indispensible addition to any library with aspirations of keeping up-to-date with the world of accounting.