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Chapter and Conference Paper
Value Creation within a Service Dominant Logic for Marketing
In line with other authors we believe that marketing is currently in a process of a profound paradigm shift. A lively discussion about a Service Dominant Logic (SDL) for Marketing has been launched by an artic...
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Chapter
Innovations in Price Management
Price management has been a field of sporadic innovation. Auctions, nonlinear pricing, and bundling precede our current era. Innovations in pricing used to be rare and slow to spread, but we have seen rapid, w...
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Chapter
Price Strategy
The business strategy defines the framework for price management. This starts with articulating the set of goals the business is pursuing. In general, these goals have many dimensions and are often to some ext...
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Chapter
Analysis: The Psychology of Price
The psychology of price is supplementary to the perspectives of classical economics and thus contributes to a more comprehensive understanding of the effects of price. Economics and marketing are not solely ba...
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Chapter
Decision: Multidimensional Prices
One-dimensional pricing, discussed in the preceding chapter, is rather the exception than the rule in economic reality. Companies typically charge different prices for the same product depending on target grou...
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Chapter
Price Management and Institutional Context
In the previous chapters, we have looked at price decisions without taking the institutional or economic context into account. For example, we have proceeded as if there were no inflation or deflation. The rea...
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Chapter
Price Management for Industrial Goods
Price management for industrial goods involves numerous special aspects. Overall, it is characterized by a wide variety of price models and pricing approaches. Because of these special aspects, analysis demand...
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Chapter
Price Management for Retailers
This chapter addresses the special characteristics of retail price management. For many retailers, price is the most important and most effective competitive instrument. Price differences in retail have a grea...
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Chapter
Fundamentals of Price Management
In this fundamental chapter, we will identify price as the strongest driver of profit and explore the relevant aspects of price management. Despite its significance, price is often not well managed in practice...
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Chapter
Analysis: The Economics of Price
Value-to-customer, costs, and competing offers are the economic determinants of price. This chapter will examine these three determinants and their interrelationships. Viewed in isolation, costs only represent...
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Chapter
Decision: One-Dimensional Prices
This chapter deals with decision-making for one-dimensional prices. In other words, it involves setting a price for one product in one period. Rigid processes such as cost-plus or competition-oriented pricing,...
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Chapter
Decision: Long-Term Price Optimization
Any company’s goal should be long-term—and not short-term—profit maximization. This goal is synonymous with the maximization of shareholder value. Up until now, we have not examined relationships across time p...
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Chapter
Implementation
In the previous chapters, we have dealt with price strategy, analysis, and decision-making. But the mission is not accomplished. Price decisions need to be implemented, and this in turn requires that processes...
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Chapter
Price Management for Consumer Goods
The most important aspect of price management for consumer goods is that manufacturers typically do not sell their products directly to the end consumers. Instead, retailers or other third parties are engaged ...
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Chapter
Price Management for Services
In highly developed economies, services typically account for more than three quarters of the gross domestic product (GDP). Services have a range of special characteristics which are very important for price m...