[学科前沿] 【2019新书】Price Management: Strategy, Analysis, Decision, Implementation [推广有奖]

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Price Management: Strategy, Analysis, Decision, Implementation
by Hermann Simon (Author), Martin Fassnacht (Author)

About the Author
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 econo-mists. 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.

About this book
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.

Table of contents
1 Fundamentals of Price Management 1
1. 1 Profit and Price 1
1. 2 Definition of Price 5
1. 3 Price and Management 6
      1. 3. 1 Price as a Marketing Instrument 6
      1. 3. 2 Understanding the Role of Price 10
      1. 3. 3 Price Management as a Process 14
1. 4 Knowledge Sources for Price Management 16
      1. 4. 1 Macroeconomic Price Theory 16
      1. 4. 2 Microeconomics 16
      1. 4. 3 Marketing Science 16
      1. 4. 4 Behavioral Economics 17
      1. 4. 5 Brain Research 17
      1. 4. 6 Price Consulting 17
      1. 4. 7 Software for Price Management 18
      1. 4. 8 Pricing Innovators 18
      1. 4. 9 Popular Literature 18
1. 5 The Legal Framework of Price Management 19
      1. 5. 1 United States 19
      1. 5. 2 European Union 19
      1. 5. 3 Worldwide 20
      1. 5. 4 Activities of the Antitrust Agencies 20
1. 6 Current Trends in Price Management 21
      1. 6. 1 Prices Are Penetrating Management Thinking 21
      1. 6. 2 Price and Power 23
      1. 6. 3 Price and Top Management 24
References 26
2 Price Strategy 29
2. 1 Goals 29
2. 2 Price Management and Shareholder Value 35
2. 3 Value and Price 40
2. 4 Positioning 41
2. 5 Approach 44
2. 6 Price Positions 46
      2. 6. 1 Luxury Price Position 46
      2. 6. 2 Premium Price Position 53
      2. 6. 3 Medium-Price Position 59
      2. 6. 4 Low-Price Position 64
      2. 6. 5 Ultra-Low Price Position 70
      2. 6. 6 The Dynamics of Price Positioning 75
References 81
3 Analysis: The Economics of Price 85
3. 1 Introduction 85
3. 2 Analysis of Price-Relevant Information 86
      3. 2. 1 Cost-Plus Pricing 87
      3. 2. 2 Customers 88
      3. 2. 3 Competition 90
3. 3 The Price-Response Function 92
      3. 3. 1 Classification of Price-Response Functions 92
      3. 3. 2 Price-Response Functions and Price Elasticity 93
      3. 3. 3 Additional Forms of the Price-Response Function 99
      3. 3. 4 Empirical Findings on Price Elasticity 102
3. 4 Empirical Determination of the Price-Response Function 108
      3. 4. 1 Surveys 108
      3. 4. 2 Observations 128
      3. 4. 3 Synopsis of Instruments 136
References 139
4 Analysis: The Psychology of Price 143
4. 1 Introduction 143
4. 2 Traditional Psychology of Price 145
      4. 2. 1 Prestige Effects of Price 145
      4. 2. 2 Giffen Paradox 146
      4. 2. 3 The Price as a Quality Indicator 146
      4. 2. 4 Special Cases 149
4. 3 Behavioral Pricing 150
      4. 3. 1 Theoretical Basis 151
      4. 3. 2 Behavioral Pricing Effects 157
      4. 3. 3 Neuro-Pricing 166
      4. 3. 4 Overall Assessment 167
References 169
5 Decision: One-Dimensional Prices 173
5. 1 Introduction 173
5. 2 Categorization of One-Dimensional Pricing Processes 174
5. 3 Rigid Pricing Processes 175
      5. 3. 1 Cost-Plus Pricing 175
      5. 3. 2 Competition-Oriented Pricing 176
5. 4 Comprehensive Pricing Process 178
      5. 4. 1 Break-Even Analysis 178
      5. 4. 2 Decision-Support Systems 183
      5. 4. 3 Mathematical Price Optimization 185
      5. 4. 4 Price Optimization in Oligopoly 192
      5. 4. 5 Reaction Hypotheses in an Oligopoly 198
5. 5 Background Information 206
References 207
6 Decision: Multidimensional Prices 209
6. 1 Introduction 209
6. 2 Price Differentiation 210
      6. 2. 1 Market Segmentation as the Foundation for Price Differentiation 211
      6. 2. 2 Theoretical Basis of Price Differentiation 214
      6. 2. 3 Implementation of Price Differentiation 219
6. 3 Price Decisions Across Products 238
      6. 3. 1 Price Decisions for Product Lines 238
      6. 3. 2 Price Bundling 246
6. 4 Background Information 255
References 255
7 Decision: Long-Term Price Optimization 259
7. 1 Determinants of Long-Term Optimal Prices 259
      7. 1. 1 Long-Term Objective Function 260
      7. 1. 2 Long-Term Price-Response Function 260
      7. 1. 3 Long-Term Cost Function 268
7. 2 Long-Term Price Optimization 272
      7. 2. 1 Rules of Thumb for Long-Term Price Decisions 273
      7. 2. 2 Quantitative Optimization of Long-Term Prices 279
7. 3 Long-Term Price Decisions and Relationship Marketing 286
      7. 3. 1 Long-Term Price Decisions and Customer Acquisition 288
      7. 3. 2 Long-Term Price Decisions and Customer Retention 289
      7. 3. 3 Long-Term Price Decisions and Winning Back Customers 291
7. 4 Background Information 294
References 296
8 Price Management and Institutional Context 299
8. 1 Price and Inflation 299
      8. 1. 1 Varying Inflation Rates and Net Market Position 300
      8. 1. 2 Inflation-Neutral Trend 301
      8. 1. 3 Non-Inflation-Neutral Trend 301
      8. 1. 4 Tactical Considerations on Price and Inflation 303
8. 2 International Price Management 304
      8. 2. 1 Problems and Practices 304
      8. 2. 2 Price and Exchange Rates 308
      8. 2. 3 Parallel Imports 314
      8. 2. 4 Price and Government Intervention 321
      8. 2. 5 Implementation in an International Context 324
References 326
9 Implementation 329
9. 1 Introduction 329
9. 2 Responsibilities in Price Management 330
      9. 2. 1 Definition of the Tasks 331
      9. 2. 2 Allocation of Price Decision Authority 333
      9. 2. 3 Price-Related Organization 336
      9. 2. 4 The Role of the CEO 344
9. 3 The Role of the Sales Force 348
      9. 3. 1 Price Decision Authority of the Sales Force 348
      9. 3. 2 Price-Oriented Incentive Systems 354
9. 4 Price Communication 362
      9. 4. 1 External Price Communication 363
      9. 4. 2 Internal Price Communication 373
9. 5 Price Controlling 374
      9. 5. 1 The Price Controlling Function 375
      9. 5. 2 IT Requirements 375
      9. 5. 3 Tools for Price Controlling 376
References 385
10 Price Management for Consumer Goods 389
10. 1 Introduction 389
10. 2 Vertical Price Management 390
      10. 2. 1 The Manufacturer Sets Both Its Selling Price and the End Consumer Price 392
      10. 2. 2 The Manufacturer Sets Only the Manufacturer’s Selling Price 398
      10. 2. 3 Manufacturer and Trade Partner Pursue Joint Profit Maximization 404
      10. 2. 4 Distribution of Profit 406
10. 3 Multichannel Price Management 410
References 415
11 Price Management for Industrial Goods 417
11. 1 Introduction 417
11. 2 Analysis 419
11. 3 Decision 421
      11. 3. 1 Value-Based Pricing 421
      11. 3. 2 Cost-Oriented Pricing 424
      11. 3. 3 Auctions 426
11. 4 Implementation 430
      11. 4. 1 Price Negotiation 430
      11. 4. 2 Price Contracts and Price Hedging 436
References 440
12 Price Management for Services 443
12. 1 Introduction 443
12. 2 Analysis 447
      12. 2. 1 Company Information 448
      12. 2. 2 Customer Information 449
      12. 2. 3 Competitor Information 452
12. 3 Decision 452
      12. 3. 1 Decision-Support Methods 452
      12. 3. 2 Price Differentiation for Services 454
      12. 3. 3 Yield Management 458
12. 4 Implementation 464
      12. 4. 1 Implementation of Differentiated Prices 464
      12. 4. 2 Fixed Prices or Case-Specific Prices 465
      12. 4. 3 Price Communication 466
References 468
13 Price Management for Retailers 471
13. 1 Introduction 471
13. 2 Strategy 473
      13. 2. 1 Price Positioning 473
      13. 2. 2 Price Image 478
13. 3 Analysis 483
      13. 3. 1 Company Information 483
      13. 3. 2 Consumer Information 484
      13. 3. 3 Competitor Information 489
13. 4 Decision 490
      13. 4. 1 Setting Price Ranges 490
      13. 4. 2 Price Decisions for Individual Items 491
      13. 4. 3 Price Decisions and Assortment Effects 494
      13. 4. 4 Decisions on Price Promotions 496
13. 5 Implementation 501
      13. 5. 1 Organizational Aspects 501
      13. 5. 2 Controlling 503
      13. 5. 3 Price Communication 504
References 508
14 Innovations in Price Management 513
14. 1 Pricing Innovations: A Historical Overview 513
14. 2 Changes in the Price-Response Function Due to Increased Transparency 518
      14. 2. 1 Price Transparency 518
      14. 2. 2 Value Transparency 520
14. 3 Innovative Pricing Models 522
      14. 3. 1 Flat Rates 522
      14. 3. 2 Freemium 525
      14. 3. 3 Interactive Pricing Models 529
      14. 3. 4 Pay-Per-Use 532
      14. 3. 5 New Price Metrics 535
      14. 3. 6 Two-Sided Price Systems 538
      14. 3. 7 Negative Prices 539
      14. 3. 8 Marginal Costs of Zero and the Sharing Economy 544
      14. 3. 9 Innovative Payment Systems 546
References 552
Acknowledgments 557

Length: 558 pages
Publisher: Springer; 1st ed. 2019 edition (March 8, 2019)
Language: English
ISBN-10: 3319994557
ISBN-13: 978-3319994550

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