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This book demonstrates how to transform pricing, often considered the neglected aspect of marketing, into the most influential marketing tool that positively impacts the company's profits in a sustainable manner. Ultimately, every aspect of marketing is reflected in the price, as it represents the customer's value exchange for the other three value-creating marketing instruments: the product (functional value), communication (emotional value), and distribution (availability). The authors present the essential framework conditions and fundamental principles of active price management. They specifically emphasize those aspects that have proven particularly relevant to business practice through the Executive Education program at the University of St. Gallen (HSG).
List of contents
Active Price Management: Fundamentals and Challenges.- Conditions of Price Management.- Goals of Price Management.- Price Management Strategies.- Price Management for Innovations.- Auctions.- Price Management for Business-to-Business Services.- Conclusion.
About the author
Sven Reinecke is an associate professor of Business Administration, specializing in Marketing, at the University of St. Gallen (HSG), Switzerland. He also serves as the Managing Director of the Institute for Marketing and Customer Insight.
Laura Johanna Noll is a postdoctoral researcher at the Institute for Marketing and Customer Insight, as well as the Head of the Competence Center for Art+ at the University of St. Gallen (HSG), Switzerland.
Summary
This book demonstrates how to transform pricing, often considered the neglected aspect of marketing, into the most influential marketing tool that positively impacts the company's profits in a sustainable manner. Ultimately, every aspect of marketing is reflected in the price, as it represents the customer's value exchange for the other three value-creating marketing instruments: the product (functional value), communication (emotional value), and distribution (availability). The authors present the essential framework conditions and fundamental principles of active price management. They specifically emphasize those aspects that have proven particularly relevant to business practice through the Executive Education program at the University of St. Gallen (HSG).
