Ultimately, nobody is in a better position to “get pricing right” than the marketer. And when a 1% shift in price can increase profits by 12% or more, businesses can’t afford to wait for a crisis to act. Marketers that invest in their pricing capabilities, who understand their customer’s relationship with the price, and who are clear in their objectives will find themselves able to make pricing decisions before a crisis hits, with confidence in the value of their offer, as the author explains.
This article is an excerpt and sneak preview from the new book by Dr. Hermann Simon and Professor Martin Fassnacht entitled “Price Management – Strategy, Analysis, Decision, Implementation” (New York: Springer Nature 2019, 558 pages). Detailed author biographies are included at the end of the piece.