Pricing Strategy Implementation: Translating Pricing Strategy into Results, 1st Edition (Paperback) book cover

Pricing Strategy Implementation

Translating Pricing Strategy into Results, 1st Edition

By Andreas Hinterhuber, Stephan M. Liozu

Routledge

176 pages | 56 B/W Illus.

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pub: 2019-08-20
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Description

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.

Reviews

"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 Wärtsilä 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

Table of Contents

Part 1: Introduction

1. Introduction: Implementing pricing strategies

Andreas Hinterhuber and Stephan M. Liozu

Part 2: Aligning the Organization around Pricing Strategy Implementation

2. Implementing pricing strategies – the frameworks to drive profits by pricing actions

Andreas Hinterhuber

3. Elevating the cost of doing nothing – An interview with Mark Shafer

Andreas Hinterhuber, Evandro Pollono and 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

Frank Cespedes and Andreas Hinterhuber

5. The strategic account manager as ecosystem captain – driving profits via pricing

Bernard L. Quancard and Andreas Hinterhuber

6. Designing Sales Force Compensation Programmes to Improve Pricing Execution

Stephan M. Liozu

Part 4: Pricing Strategy Implementation – The Role of Marketing

7. Implementing pricing strategies by developing and implementing effective discounting practices

Evandro Pollono and Jose Vela

8. Designing and Executing B2B Customer Segmentation

Stephan M. Liozu and Katie Richardson

9. Training Programmes to Boost Pricing Execution

Stephan M. Liozu

10. Implementing a structured Pricing Strategy approach

Ingo Hennecke

Part 5: Implementing Pricing Strategies that Win Deals

11. Pricing large deals: Insights into capabilities and tools that help to win large deals profitably

Andreas Hinterhuber

12. Pricing to Win – A framework for strategic big decision making

Gerhard Riehl

13. Value Quantification – Process and Best Practices to Document and Quantify Value in B2B

Andreas Hinterhuber

14. Implementing Pricing Strategies via Quantified Value Propositions

Todd Snelgrove

15. Adopt Value Selling: Best Practices to Drive Sustainable Organizational Change

Peyton Marshall

16. Executing Price Control in Five Simple Steps

Mitch D. Lee

17. Eight Best Practices to Improve Pricing Execution

Stephan M. Liozu

About the Authors

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 Research 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-edited Innovation in Pricing (2012), The ROI of Pricing (2014) and Pricing and the Salesforce (2015).

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS027000
BUSINESS & ECONOMICS / Finance
BUS043000
BUSINESS & ECONOMICS / Marketing / General
BUS058000
BUSINESS & ECONOMICS / Sales & Selling
BUS063000
BUSINESS & ECONOMICS / Strategic Planning