Advertisement

© 2019

Price Management

Strategy, Analysis, Decision, Implementation

Benefits

  • The most comprehensive resource on price management, covering all key dimensions and applicable to all types of industries and organizations

  • Features dozens of examples and case studies from around the world

  • Integration of theoretical rigor with practical relevance will appeal to managers, researchers, and students alike

  • Adaptation of the authors’ leading German-language text (in four editions), highlighting the most current innovations in pricing, including new price metrics, Big Data applications, two-sided price systems, negative prices, and digital payment systems such as bitcoin

  • Authors are the foremost experts on pricing, actively consulting and teaching

Book

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Hermann Simon, Martin Fassnacht
    Pages 1-28
  3. Hermann Simon, Martin Fassnacht
    Pages 29-84
  4. Hermann Simon, Martin Fassnacht
    Pages 85-142
  5. Hermann Simon, Martin Fassnacht
    Pages 143-172
  6. Hermann Simon, Martin Fassnacht
    Pages 173-208
  7. Hermann Simon, Martin Fassnacht
    Pages 209-257
  8. Hermann Simon, Martin Fassnacht
    Pages 259-297
  9. Hermann Simon, Martin Fassnacht
    Pages 299-327
  10. Hermann Simon, Martin Fassnacht
    Pages 329-388
  11. Hermann Simon, Martin Fassnacht
    Pages 389-416
  12. Hermann Simon, Martin Fassnacht
    Pages 417-442
  13. Hermann Simon, Martin Fassnacht
    Pages 443-469
  14. Hermann Simon, Martin Fassnacht
    Pages 471-511
  15. Hermann Simon, Martin Fassnacht
    Pages 513-556
  16. Back Matter
    Pages 557-558

About this book

Introduction

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.

Keywords

Price management Price strategy Price elasticity Price optimization Price behavior Price controlling Price policy Purchase decision Consumer behavior

Authors and affiliations

  1. 1.Simon-Kucher & Partners Strategy and Marketing ConsultantsBonnGermany
  2. 2.WHU – Otto Beisheim School of Management, Chair of Marketing and CommerceDüsseldorfGermany

About the authors

Hermann Simon is the founder and honorary chairman of Simon-Kucher & Partners, the world’s leading price consultancy. Ranked on the Thinkers50 list of the most influential international management thinkers, he is considered the world’s leading authority on pricing.

Simon has published over 35 books in 27 languages, including the worldwide bestsellers Hidden Champions, Confessions of the Pricing Man, Power Pricing, and Manage for Profit, Not for Market Share. From 1995 to 2009 he served as CEO of Simon-Kucher & Partners. He has advised many of the world’s leading companies, and has served as a board member of foundations and corporations.

Before committing himself entirely to management consulting, Simon was a professor of business administration and marketing at the Universities of Mainz (1989-1995) and Bielefeld (1979-1989). His visiting professorships include Harvard Business School, Stanford, London Business School, INSEAD, Keio University in Tokyo, and the Massachusetts Institute of Technology.

He has served on the editorial boards of numerous business journals, including the International Journal of Research in Marketing, Management Science, Recherche et Applications en Marketing, Décisions Marketing, and European Management Journal. He was also president of the European Marketing Academy (EMAC).

Simon studied economics and business administration at the Universities of Cologne and Bonn, where he received degrees in economics and earned his Ph.D. in management science. He has received many international awards and three honorary doctorates. He is honorary professor at the University of International Business and Economics in Beijing and the Hermann Simon Business School in China has been named in his honor.

 
Martin Fassnacht is the Otto Beisheim Chaired Professor of Marketing and Commerce at the WHU – Otto Beisheim School of Management in Düsseldorf, Germany. He ranks as one of Germany’s most influential economists. Under the motto “We Inspire Marketing,” he and his team at WHU generate fresh ideas for research, practice, and teaching in price management, retail marketing, and brand management. He serves as a strategic advisor to consumer goods manufacturers and retailers, and he and his team conduct projects in cooperation with partners from industry and trade. He is also the author of numerous publications in international peer-reviewed journals and magazines.

Fassnacht is the scientific director of the Center for Market-Oriented Corporate Management at WHU and the academic director of WHU’s MBA program. He is the chairman of the Advisory Board of the Henkel Center for Consumer Goods (HCCG) at WHU.

Fassnacht completed his post-doctoral work at the University of Mannheim and at the WHU with Prof. Christian Homburg. He received his Ph.D. in Business Administration from the University of Mainz under the direction of Prof. Hermann Simon, co-author of this book. Fassnacht was a visiting scholar at the Owen Graduate School of Management at Vanderbilt University and at the McCombs School of Business at the University of Texas at Austin.


Bibliographic information

  • Book Title Price Management
  • Book Subtitle Strategy, Analysis, Decision, Implementation
  • Authors Hermann Simon
    Martin Fassnacht
  • DOI https://doi.org/10.1007/978-3-319-99456-7
  • Copyright Information Springer Nature Switzerland AG 2019
  • Publisher Name Springer, Cham
  • eBook Packages Business and Management Business and Management (R0)
  • Hardcover ISBN 978-3-319-99455-0
  • eBook ISBN 978-3-319-99456-7
  • Edition Number 1
  • Number of Pages XVIII, 558
  • Number of Illustrations 137 b/w illustrations, 2 illustrations in colour
  • Additional Information English Translation and Adaptation from the 4th original German edition, Preismanagement, published by Springer Gabler, Heidelberg, 2016
  • Topics Marketing
    Business Strategy/Leadership
  • Buy this book on publisher's site
Industry Sectors
Pharma
Automotive
Chemical Manufacturing
Biotechnology
Finance, Business & Banking
Telecommunications
Law
Consumer Packaged Goods
Oil, Gas & Geosciences
Engineering