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While all company executives know the importance of pricing, their knowledge about how to make sound pricing decisions is, in most cases, incomplete. Environmental changes, such as COVID-19, worldwide inflation, and regional wars, have given the pricing function significantly more attention, while there have been technological developments in digitalisation and artificial intelligence. This textbook tackles these changes head-on, providing an up-to-date discussion on the theory and practice of pricing.
Offering modern, relevant, practical examples, exercises and solutions, readers will gain a thorough and critical understanding of pricing in a digital world. Whilst grounded in theory, this book also offers practical tips and techniques that can be applied in local and international businesses. This book helps business students and company executives to deepen their knowledge of smart pricing.
List of contents
Chapter 1: PRICING IN FOCUS.- Chapter 2: THE ECONOMICS OF PRICING.- Chapter 3: CUSTOMERS PRICE PERCEPTION.- Chapter 4: PRICE COSTS AND PROFIT.- Chapter 5: METHODS OF PRICE SETTING.- Chapter 6: PRICING STRATEGY.- Chapter 7: DYNAMIC PRICING.- Chapter 8: PRODUCT LINE PRICING AND BUNDLING.- Chapter 9: PRICING ACROSS THE MARKETING CHANNELS.- Chapter 10: RETAIL AND WHOLESALE PRICING.- Chapter 11: PRICING IN INTERNATIONAL MARKETS.- Chapter 12: SUCCESSFUL PRICE NEGOTIATIONS.- Chapter 13: NEW PRICE BASED BUSINESS MODELS.- Chapter 14: PRICING TOOLS AND SYSTEMS.- Chapter 15: THE ROLE OF AI IN PRICING.
About the author
Gábor Rekettye is a distinguished Professor at the University of Pécs, Hungary. He has authored several textbooks and over 300 works. Gábor served as a commercial counsellor of Hungary, in Tokyo, and has held various leadership positions, including Dean of the Business School and Head of the Marketing Department. In 2013, the President of Hungary honoured him with the Hungarian Order of Merit Officers Cross and in 2021, he received the Cursus Vitae Aureus Award from the Academy of Sciences for his lifetime achievements.
Jonathan Liu is the founder and Executive Dean of the International Business School in Manchester, UK. He has two Non-Executive Directorship responsibilities with Higher Education institutions and is a Trustee of two charitable learned societies. Jonathan is also the chairman of the board of trustees at Ming-Ai (London) Institute. He publishes extensively and has over a hundred articles and ten books published in subject areas relating to Business and Management.
Pál Danyi is Associate Professor at the Budapest University of Technology and Economics, Hungary, and a pricing expert and the co-owner of DynamO Pricing Ltd. He holds a PhD in Artificial Intelligence and possesses 17 years of experience in various managerial and executive positions at Ernst & Young and Deutsche Telekom. For the past 30 years, he has lectured at several universities, including Salford University, UK, State University of New York at Albany, US, and Central European University, Austria.
Summary
While all company executives know the importance of pricing, their knowledge about how to make sound pricing decisions is, in most cases, incomplete. Environmental changes, such as COVID-19, worldwide inflation, and regional wars, have given the pricing function significantly more attention, while there have been technological developments in digitalisation and artificial intelligence. This textbook tackles these changes head-on, providing an up-to-date discussion on the theory and practice of pricing.
Offering modern, relevant, practical examples, exercises and solutions, readers will gain a thorough and critical understanding of pricing in a digital world. Whilst grounded in theory, this book also offers practical tips and techniques that can be applied in local and international businesses. This book helps business students and company executives to deepen their knowledge of smart pricing.
