Details

Pricing Done Right

The Pricing Framework Proven Successful by the World's Most Profitable Companies
Bloomberg Financial 1. Aufl.

von: Tim J. Smith
52,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	23.06.2016
ISBN/EAN:	9781119191155
Sprache:	englisch
Anzahl Seiten:	208

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Beschreibungen

Titelbeschreibung

Practical guidance and a fresh approach for more accurate value-based pricing Pricing Done Right provides a cutting-edge framework for value-based pricing and clear guidance on ideation, implementation, and execution. More action plan than primer, this book introduces a holistic strategy for ensuring on-target pricing by shifting the conversation from 'What is value-based pricing?' to 'How can we ensure that our pricing reflects our goals?' You'll learn to identify the decisions that must be managed, how to manage them, and who should make them, as illustrated by real-world case studies. The key success factor is to build a pricing organization within your organization; this reveals the relationships between pricing decisions, how they affect each other, and what the ultimate effects might be. With this deep-level insight, you are better able to decide where your organization needs to go. Pricing needs to be done right, and pricing decisions have to be made—but are you sure that you're leaving these decisions to the right people? Few managers are confident that their prices accurately reflect the cost and value of their product, and this uncertainty leaves money on the table. This book provides a practical template for better pricing strategies, methods, roles, and decisions, with a concrete roadmap through execution. <ul> <li>Identify the right questions for pricing analyses</li> <li>Improve your pricing strategy and decision making process</li> <li>Understand roles, accountability, and value-based pricing</li> <li>Restructure perspectives to help pricing reflect your organization's goals</li> </ul> The critical link between pricing and corporate strategy must be reflected in the decision making process. Pricing Done Right provides the blueprint for more accurate pricing, with expert guidance throughout the change process.

Inhaltsverzeichnis

Preface xi Acknowledgments xvii Chapter 1 The Value-Based Pricing Framework for Getting Pricing Done Right 1 Embedding the Culture of Value-Based Pricing 3 Overarching Pricing Decision Areas 3 Analytical Routines 7 Decision Teams 8 Chapter 2 Value‐Based Pricing 11 The Purpose of Firms: Serve Customer Needs Profitably 11 Value Engineering 15 Value‐Based Pricing 17 Differential Benefits 20 Differential Price 26 Exchange Value to Customer 28 Design Costs against Price to Profit 32 References 34 Chapter 3 Business Strategy Alignment 35 Business Strategy 36 Customers 39 Competitors 47 Company 51 References 53 Chapter 4 Pricing Strategy 55 Price Positioning 56 Price Segmentation 62 Competitive Price Reaction Strategy 65 Pricing Capability 74 References 76 Chapter 5 Price Management 79 Market Pricing 82 Price Variance Policy 87 Price Execution 92 Pricing Analysis 95 Chapter 6 Defining the Pricing Decision Team 99 Marketing 103 Sales 107 Finance 112 Pricing 114 References 116 Chapter 7 Pricing Continuous Improvement and Analytics 119 Continuous Improvement Process 120 Offering Innovation and Pricing Decisions 123 Price Variance Policy Continuous Improvement 131 Market Pricing Continuous Improvement 135 References 138 Chapter 8 Organizational Design of the Pricing Specialist Function 139 Pricing Community Distribution 140 Pricing Reporting Structure 143 Pricing Talent 145 References 153 Chapter 9 A Decision You Control 155 References 157 Appendix A: Economic Origins of Competitive Advantage 159 Appendix B: Getting Pricing Done with Jesse Finch Gnehm of GE Oil & Gas 163 The Value‐Based Pricing Journey 163 Context of Subsea Systems within GE 165 Pricing Community Cultivation 166 Focal Contributions of the Pricing Experts 167 Pricing Framework 169 Pricing Analysis Techniques 171 Price Automation and Analytical Tools 172 External Resources 172 Appendix C: Getting Pricing Done with Robert Smith of Eastman Chemical Company 175 Pricing Organizational Design 176 Pricing Mission 178 Pricing Functional Architecture 180 About the Author 181 Index 183

Autorenportrait

TIM J. SMITH, PHD, is the founder and CEO of Wiglaf Pricing, where he helps executives manage price better. Also an adjunct professor of marketing at DePaul University, he began his career as a research scientist in quantum mechanics before pursuing business strategy. He is the author of Pricing Strategy and Hawks, Seagulls, and Mice.

Back cover copy

If you're frustrated by how products get priced at your company, chances are your price management process lacks connectivity and informed input on a broad level. You need to upgrade your procedures so pricing decisions aren't continually made by the CEO arbitrating between department heads. Pricing Done Right shows you how the world's most profitable companies have optimized their pricing processes with the value-based pricing framework detailed inside. From the industry-influencing author of Pricing Strategy, this value-based approach to pricing rewrites the rules on what is possible when an organization gets serious about ensuring that its pricing is accurate and continually reflects its corporate goals. Based on industry-proven best practices and supported by academic literature, the methodology provides solutions to key issues challenging today's executives and managers, including identifying what decisions need to be managed, how to manage those decisions, and all the ways different decisions relate to each other. The end result of this robust and easy-to-use framework is a solid pricing organization within your company that can reveal the relationships between pricing decisions, including how they affect each other and the pros and cons of possible outcomes. This complete guide not only takes you through developing a value-based pricing system but also offers support for transitioning your organization with: <ul> <li>Firsthand insight into the practical challenges and benefits of the framework from thorough examinations into the practices of leading senior executives</li> <li>Privileged access to real-world case studies from such companies as Southwest Airlines, Piaggio SpA, and Unisource Worldwide</li> <li>One-on-one interviews on pricing done right with the director of corporate pricing at Eastman Chemical Company and the global pricing leader at GE Oil & Gas Subsea Systems</li> </ul> Whether you work for a large corporation with many complexities and decision makers or a startup that needs to get it right the first time, Pricing Done Right is the blueprint for pricing like the best in the business.