Pricing Strategy Implementation

Translating Pricing Strategy into Results

Andreas Hinterhuber (Hinterhuber and Partners, Austria), Stephan M. Liozu

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Hardback

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English

Routledge
13 August 2019

Business strategy; Sales & marketing

Pricing can truly transform organizations. The impact of pricing on organizations is a result of two factors: pricing strategy development and the implementation of these strategies. Implementation is arguably the most difficult part in the pricing strategy process where even seasoned practitioners demand guidance. Pricing strategy development requires creativity, analytical rigor, and an ability to master the internal political competition for scarce resources, but it takes place in a well-defined environment. Fast forward to strategy implementation: competitors that stubbornly fail to behave according to assumptions, new entrants, internal resistance, new opportunities, changing customer preferences, leadership changes, regulatory interventions, or market growth rates that change unexpectedly are some of the intervening variables between the pricing strategy originally developed and the strategy actually implemented. This book provides the theories and best practices that enable the effective implementation of pricing strategies. It offers:

a best practice overview on how to convert a pricing strategy into superior results

insights from current academic research on driving profits via pricing strategy implementation

examples on how to deal with digital transformation in the context of pricing

tools and insights into how to overcome internal resistance, align the organization, and forge win-win relationships with customers

Taking a new approach, Pricing Strategy Implementation is a critical and practical tool for practicing executives and managers, as well as academics and researchers in pricing, marketing strategy, and strategic management.

By: Andreas Hinterhuber (Hinterhuber and Partners Austria), Stephan M. Liozu
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 246mm, Width: 174mm,
Weight: 453g
ISBN: 9781138332164
ISBN 10: 113833216X
Pages: 166
Publication Date: 13 August 2019
Audience: College/higher education , Professional and scholarly , Further / Higher Education , A / AS level
Format: Hardback
Publisher's Status: Active

Part 1: Introduction 1. Introduction: Implementing pricing strategies Part 2: Aligning the Organization around Pricing Strategy Implementation 2. Implementing pricing strategies – the frameworks to drive profits by pricing actions 3. Elevating the cost of doing nothing – An interview with Mark Shafer Part 3: Pricing Strategy Implementation – The Role of the Sales Force 4. Interview: the role of the sales force in pricing strategy implementation 5. The strategic account manager as ecosystem captain – driving profits via pricing 6. Designing Sales Force Compensation Programmes to Improve Pricing Execution Part 4: Pricing Strategy Implementation – The Role of Marketing 7. Implementing pricing strategies by developing and implementing effective discounting practices 8. Designing and Executing B2B Customer Segmentation 9. Training Programmes to Boost Pricing Execution 10. Implementing a structured Pricing Strategy approach Part 5: Implementing Pricing Strategies that Win Deals 11. Pricing large deals: Insights into capabilities and tools that help to win large deals profitably 12. Pricing to Win – A framework for strategic big decision making 13. Value Quantification – Process and Best Practices to Document and Quantify Value in B2B 14. Implementing Pricing Strategies via Quantified Value Propositions 15. Adopt Value Selling: Best Practices to Drive Sustainable Organizational Change 16. Executing Price Control in Five Simple Steps 17. Eight Best Practices to Improve Pricing Execution

Andreas Hinterhuber is an Associate Professor at the Department of Management at Università Ca' Foscari Venezia, Italy, and has been a Partner of Hinterhuber & Partners, a consulting company specializing in pricing based in Innsbruck, Austria. He has published articles in leading journals including Journal of Business Research and MIT Sloan Management Review, and has edited many books on pricing, including Innovation in Pricing (2012), The ROI of Pricing (2014), Pricing and the Sales Force (2016), and Value First then Price (2017). Stephan M. Liozu is Chief Value Officer of the Thales Group (www.thalesgroup.com); the Founder of Value Innoruption Advisors (www.valueinnoruption.com) – a consulting boutique specializing in value-based pricing, data monetization, and digital pricing – and he is an Adjunct Professor and Research Fellow at the Weatherhead School of Management at Case Western Reserve University, USA. Stephan sits on the Advisory Board of LeveragePoint Innovation and of the Professional Pricing Society. He is the author of multiple books about pricing, including Pricing and Human Capital (2015), and co-editor of Innovation in Pricing (2012), The ROI of Pricing (2014), and Pricing and the Sales Force (2015).

Reviews for Pricing Strategy Implementation: Translating Pricing Strategy into Results

Pricing builds or destroys value faster than almost any other business action. Yet, pricing remains under-researched in academia and often guess-work in companies. Managers typically want their prices to reflect value, but translating value into a market price is a complex organizational as well as analytical task. Pricing Strategy Implementation brings relevant and timely frameworks, practice, and insights to that task. It is essential reading in a world where buyers now have easy access to product and supplier comparisons. - Frank V. Cespedes, Harvard Business School, USA Featuring numerous real-life examples and based on expertise and thought leadership, Hinterhuber and Liozu's book will give you lots of recommendations and best practices on how to develop skills, capabilities, and tools. This is a must-have in your pricing library and a must-read for anyone in search of strategies to improve their business results through strong pricing execution. - Kevin Mitchell, President of the Professional Pricing Society, USA Being in charge of different pricing strategy implementations in global organisations, I recommend this book for all who are part of a pricing project. Pricing Strategy Implementation will inspire you to think and look at the behavioural change and company business opportunities in a new and powerful way. It is about how to translate and design a pricing strategy into result. - Tom Wingren, Director of Pricing & Value Selling at Wartsila Marine Business Hinterhuber and Liozu's book is like a lighthouse in the most critical phase of the pricing journey, the Pricing Strategy Implementation. This book leverages real-life experiences of companies that went through the journey, highlighting also the power of Digital in the pricing transformation. This is a must-read for leaders that are looking to improve business profitability. - Diego Comina, VP Industrial Digital Product-Former Pricing Leader at General Electric, USA