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Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
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Searching... | 30000010241453 | HF5416.5 I586 2012 | Open Access Book | Book | Searching... |
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Summary
Summary
Pricing has a substantial and immediate impact on profitability. Most companies, however, still use costs or competition as a main basis for setting prices. Product or business model innovation has a high priority for many companies whereas innovation in pricing has received scant attention. This book examines how innovation in pricing can drive profits.
The text examines innovation in pricing from four complementary perspectives. Innovation in Pricing Strategy illustrates how companies implement innovative pricing strategies, such as customer value-based pricing. Innovation in Pricing Tactics deals with innovative tools to measure and increase customer willingness to pay and to communicate value to B2B and B2C customers. Innovation in Organizing the Pricing Function looks at state-of-the art approaches to embed the pricing function in the organization. Psychological Aspects of Pricing illustrates how companies can influence customer perceptions of value and price in their question to implement innovation in pricing.
This edited volume brings together 26 articles from academics, business practitioners and consultants. Authors are from the world's largest companies, leading research-based universities and consulting companies specialized in pricing.
This book is the only book dedicated to innovation in pricing and an essential read for business executives and pricing managers wishing to treat innovation in pricing as seriously as they treat product or business model innovation.
Author Notes
Andreas Hinterhuber is a Partner of Hinterhuber Partners, a consultancy specialized in strategy, pricing, and leadership. He is also a visiting professor at Bocconi USI Lugano and at Bocconi University, Italy.
Stephan Liozu is President and CEO of ARDEX Americas, a high performance building company. He is also a PhD in Management candidate (2013) at Case Western Reserve University, USA.
Table of Contents
List of illustrations | p. xii |
List of contributors | p. xvii |
Part I Introduction | p. 1 |
1 Innovation in pricing: Introduction | p. 3 |
Part II Innovation in organizing the pricing function | p. 25 |
2 The organizational design of the pricing function in firms: a centre-led management approach | p. 27 |
3 Organizational barriers and the implementation of customer value map analysis: a case study of a global manufacturing firm in the polymer technology industry | p. 46 |
4 CEO championing of pricing and the impact on firm performance | p. 67 |
5 Who is in charge of value? The emerging role of Chief Value Officer | p. 99 |
6 B2B pricing systems: proving ROI | p. 119 |
Part III Innovation in pricing strategy | p. 129 |
7 Innovation in B2B pricing | p. 131 |
8 Why segmentation matters | p. 151 |
9 The five fundamental value factors | p. 164 |
10 The journey to pricing excellence: the case of a mid-sized manufacturing firm | p. 178 |
11 Pricing processes in fact paced business-to-business settings | p. 183 |
12 Pricing due diligence in the mergers and acquisition process | p. 197 |
13 Busting the four fatal myths in pricing | p. 217 |
14 Creating and communicating customer value: how companies can set premium prices that customers are willing to pay | p. 228 |
15 Pricing strategies for recessionary times | p. 241 |
16 A zero-based approach to the pricing strategy | p. 245 |
Part IV Innovation in pricing tactics | p. 253 |
17 Using economic value communication to bend business-to-business buyers' value perceptions | p. 255 |
18 Value: distilling the essence | p. 273 |
19 Innovations in determining willingness-to-pay for B2B companies | p. 288 |
20 Cross-functional collaboration in value-based pricing | p. 298 |
21 Implementing effective pricing strategies: tools for tracking prices | p. 310 |
22 Winning on the margin: the B2B value imperative | p. 323 |
23 The thick and thin tails of pricing | p. 344 |
Part V Psychological aspects of pricing | p. 355 |
24 Behavioral aspects of pricing | p. 357 |
25 Research on odd prices: dead end or field of potential innovation? | p. 376 |
26 Applying consumer psychology to software pricing | p. 393 |
Part VI The next frontier | p. 401 |
27 The next frontier of the pricing profession | p. 403 |
Index | p. 410 |