Implementation

Hermann Simon and Martin Fassnacht
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Hermann Simon: Simon-Kucher & Partners Strategy and Marketing Consultants
Martin Fassnacht: WHU – Otto Beisheim School of Management, Chair of Marketing and Commerce

Chapter 9 in Price Management, 2019, pp 329-388 from Springer

Abstract: Abstract 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 and responsibilities are clearly defined. In the first part of this chapter, we will examine questions regarding setup and process organization in price management. This will include a discussion of the CEO’s tasks as well as the use of pricing software artificial intelligence and price consultants. The salesperson is central to successful price implementation. What pricing authority should salespeople have? How should a company set up its incentive systems, in order to achieve the desired objectives? Discounts, terms, and conditions likewise play a critical role. The effect of prices depends on the manner in which they are communicated. The topic of price communication therefore warrants a thorough treatment. The conclusion of the chapter will look at price monitoring and controlling. Ideally, this aspect should not be confined to price realization but include the overall pricing process. Throughout the chapter we will use real-life case studies from various industries to illustrate the respective topics.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-99456-7_9

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DOI: 10.1007/978-3-319-99456-7_9

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