Pricing

01 July 2015

Pricing ROI, pricing capabilities and firm performance

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Journal of Revenue and Pricing Management

Does an improvement in the ability to measure the returns from pricing (pricing ROI) lead to improved firm performance? In this study with 166 executives from B2B companies globally we find it does. This ability also leads to improved pricing capabilities.  

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01 July 2015

Value assessment and pricing capabilities - how to profit from value

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Journal of Revenue and Pricing Management

This article argues that value assessment and pricing capabilities provide the foundation for value creation and value appropriation in B2B markets. We provide complementary perspectives on this emerging topic. 

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01 May 2015

Violations of rational choice principles in pricing decisions

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Industrial Marketing Management

Our masterpiece:  A comprehensive framework illustrates how decisions about purchase prices by customers and price setting decisions by managers consistently violate principles of rational choice. Understanding these biases allows managers to influence customer choice and to improve the effectiveness of their own pricing decisions. 

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01 May 2015

Value-based pricing: Il prezzo migliore

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L'Impresa: Rivista Italiana di Management

Il pricing è la leva più importante per migliorare il risultato. Il value-based pricing è particolarmente indicato per tutte le aziende che non vogliono competere esclusivamente in base al prezzo più basso. In questo modo è possibile aumentare sia il profitto sia la soddisfazione dei clienti.  

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01 May 2014

Is innovation in pricing your next source of competitive advantage?

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Business Horizons

In an environment where most efforts are addressed toward product or business model innovation, innovation in pricing may be the most powerful, albeit the least explored, source of competitive advantage. Through an extensive research, we provide as many as 20 possible venues for innovation in pricing: Universal strategies that go beyond size, nationality, or industry of the firm.

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01 January 2014

Organizational design and pricing capabilities for superior firm performance

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Management Decision

How can executives increase firm performance via pricing? We survey 748 pricing and marketing managers globally on pricing. We find that generic organizational factors – namely center-led price management – as well as firm-specific capabilities – namely organizational confidence, championing behaviors by top management, organizational change capacity, and pricing capabilities – are key requirements to increase firm performance via pricing. Getting pricing right means, in our view, getting the 5C's of pricing right.  

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01 January 2014

Pricing capabilities: the design, development, and validation of a scale

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Management Decision

What are pricing capabilities? Can we measure them quantitatively? Based on a survey of 1812 CEOs, pricing managers and sales executives we develop a construct that allows to measure pricing capabilities. This construct, PRICECAP, covers all the three critical dimensions of pricing: customers, competition and the company itself. Pricing capabilities are directly linked to relative firm performance. 

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01 January 2014

Willingness to pay is a fluid concept

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Financial Times

Willingness to pay is not quality which is inherent in a product. Instead, willingness to pay is a fluid concept that creative marketers can and should influence. Asset values of differentiated products thus reflect subjective perceptions of value.  

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Kundenorientierte Unternehmensführung, Gabler, 2009, von Hans Hinterhuber & Kurz Matzler (Hrsg.)
01 January 2014

¿Ha llegado el momento de repensar nuestra estrategia de precios?

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Harvard Deusto Business Review

Nuestra obra maestra: Sin embargo, prácticamente todas las organizaciones pueden mejorar el rendimiento de sus precios, siempre y cuando aborden esta cuestión de una manera estructurada. Porque fijar y obtener precios requiere disciplina, no suerte, y todas pueden mejorar sus capacidades al respecto. 

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01 July 2013

The confidence factor in pricing: driving firm performance

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Journal of Business Strategy

In a study of 748 pricing and marketing managers we identify the four critical competencies that drive the effectiveness of pricing: pricing capabilities, organizational confidence, organizational change capacity and CEO championing. This is the first quantitative study documenting a link between confidence - an attitude - and firm performance - tangible results: a 1 point improvement in confidence improves return on sales by 4% on average. 

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01 July 2013

By itself, market share leadership isn’t worth a dime

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Financial Times

Contrary to a commonly held belief, market share, we argue, does not confer pricing power. Pricing power stems from the ability to create products or services that serve customers' latent needs.  

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01 May 2013

CEO championing of pricing, pricing capabilities, and firm performance in industrial firms

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Industrial Marketing Management

In a study of 358 CEOs from B2B firms globally we find that CEO championing of pricing increases pricing capabilities and firm performance. CEO engagement in pricing thus pays off.  

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01 May 2013

Pricing orientation, pricing capabilities, and firm performance

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Management Decision

Does value-based pricing increase profits? This paper is the first quantitative study documenting a positive relationship between value-based pricing and firm performance, suggesting that other pricing approaches, e.g. cost-and competition-based pricing, are detrimental to firm performance.

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01 February 2013

Do you even have a pricing strategy?

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The Build Network, Inc. Magazine

Summary of our MIT Sloan Management Review article. If you are unsure about the price getting capabilities of key personnel in sales and account management, make sure they take the test.  

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01 August 2012

Strategisches Preismanagement zur kurzfristigen Ergebnisverbesserung

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Newsletter der Nürnberger Akademie für Absatzwirtschaft

Eine Einführung in Preismanagement. Gutes Preismanagement bestimmt Preise nach Kundenwert und nicht nach Kosten oder Konkurrenzpreisen.  

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01 July 2012

An empirical analysis of the role of industrial brands for industrial distributors

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Journal of Strategy and Management 

Do industrial retailers value industrial brands?  We conduct two studies with B2B retailers and find that industrial brands are at least as important as price and margins for B2B retailers as purchase factor. Industrial brands thus create value not only for industrial end-users, but also for industrial distributors. 

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01 July 2012

Industrial product pricing: a value-based approach

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Journal of Business Strategy

How do firms that practice value-based pricing differ from firms using cost- or competition-based pricing? Interviews with 44 managers in 15 industrial firms reveal important differences. 

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01 July 2012

Is It Time to Rethink Your Pricing Strategy?

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MIT Sloan Management Review 

Our masterpiece: Price setting and price getting are the two fundamental elements to drive profits via pricing. Through the use of our disciplined approach to pricing - the Pricing Capability Grid - executives can assess and develop the pricing capabilities of their organization.  

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01 June 2012

Mindful pricing: transforming organizations through value-based pricing

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Journal of Strategic Marketing

How do companies change from cost- to value-based pricing? We highlight the role of mindfulness, the process of actively noticing new things. Our empirical study suggests that value-based pricing is not simply adopted but internalized through a long and purposeful process supported by a mindful, experiential, and transformative learning environment. 

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01 May 2012

Chief Pricing Officer – Der den Preis steuert

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Südtiroler Wirtschaftszeitung

Was macht ein Chief Pricing Officer? Warum sollten Unternehmen mit mehr als 15 Mio. € Umsatz und Hotelbetriebe ab etwa 100 Betten ihre Preisgestaltung mit einem Chief Pricing Officer optimieren? Dieser Beitrag hat die Antwort.  

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01 January 2012

Pricing strategies and pricing capabilities

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Journal of Revenue and Pricing Management

While showing the strategic importance of pricing capabilities, this article provides insights on the challenges it takes to build them and in implementing value-based pricing.

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01 January 2012

Strategic B2B pricing

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Journal of Revenue and Pricing Management

This editorial introduces the importance of pricing as a strategic tool. Pricing is strategic if it is a source of differentiation and competitive advantage; furthermore, pricing is strategic if it becomes an integral element of a firm's overall strategy.

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01 January 2012

The conceptualization of value-based pricing in industrial firms

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Journal of Revenue and Pricing Management 

How do executives in industrial markets understand "value based pricing"? We interview managers in firms with a value-based, a cost-based and a competition-based pricing orientation and find that executives in the latter two companies typically fail to understand what value-based pricing is. A failure to fully understand value-based pricing may thus explain why cost-based and competition-based pricing are still the dominant pricing approaches.  

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Kundenorientierte Unternehmensführung, Gabler, 2009, von Hans Hinterhuber & Kurz Matzler (Hrsg.)
01 October 2011

Primero el valor

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Gestión HSM

Sepa cuál es el método que ha demostrado ser el más efectivo para fijar los precios, incrementar la rentabilidad y lograr un éxito sostenido. 

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01 May 2011

Strategisches Preismanagement –Interview

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Newsletter der Nürnberger Akademie für Absatzwirtschaft

Ein Gespräch zu Preismanagement, zur Auswirkung von Preisveränderungen, zur zweischneidigen Wirkung von Rabatten und zur organisatorischen Verankerung von kundenwertorientiertem Pricing.   

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01 May 2011

Pricing approaches at industrial companies: cost- versus value-based pricing

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Velocity (Strategic Account Management Association)

Our research reveals some fundamental differences between companies practicing cost-based pricing and companies successfully practicing value-based pricing. 

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01 April 2011

Gutes darf mehr kosten

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Südtiroler Wirtschaftszeitung

Führende Unternehmen leiten ihre Preise nicht von Kosten oder von Konkurrenzpreisen ab, sondern vom Wert, den sie für ihre Kunden schaffen. Dieser Beitrag zeigt, was ein kundenwertorientiertes Preismanagement auszeichnet und wie es sich umsetzen lässt. 

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01 March 2011

Profiting When Customers Choose Value Over Price

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Business Strategy Review

Value-based pricing is the overall best approach to pricing: It leads to superior profitability and it is aligned with customer needs; yet many obstacles need to be overcome. We sumarize these obstacles while offering compelling arguments for the implementation of value-based pricing.

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01 May 2010

Die Flieger als Vorbild

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Südtiroler Wirtschaftszeitung

Änderungen im Preis haben einen stärkeren Einfluss auf das Unternehmensergebnis als Änderungen von Umsatz oder Kosten. Ein Interview zu gutem Preismanagement. 

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Kundenorientierte Unternehmensführung, Gabler, 2009, von Hans Hinterhuber & Kurz Matzler (Hrsg.)
01 January 2010

Valor = precio

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HSM Management

Cómo vencer las resistencias e implementar estrategias de determinación de precios basadas en el valor para el cliente.

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01 February 2009

Der Preis ist heiß

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Südtiroler Wirtschaftszeitung

„Wie können wir trotz intensivem Wettbewerb höhere Preise realisieren?“, lautet die Frage, die sich Führungskräfte stellen. Die richtige Frage aber müsste vielmehr lauten: „Wie können wir durch Schaffung von zusätzlichem Kundenwert die Zahlungsbereitschaft des Kunden trotz Wettbewerbs erhöhen?“  

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01 January 2009

Pricing und Kundenzufriedenheit

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Kundenorientierte Unternehmensführung, Gabler Verlag

Pricing hat einen dramatischen Einfluss auf den Unternehmenserfolg. Wir präsentieren ein Rahmenmodell zur Erarbeitung und Umsetzung von kundenwertoriertiertem Preismanagement.    

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01 November 2008

Value delivery and value-based pricing in industrial markets

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Advances in Business Marketing and Purchasing

What is value in business markets? Value in B2B is multidimensional. We provide a framework for value assessment and value creation in industrial markets and link this framework to value-based pricing and value delivery in B2B.  

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01 July 2008

Customer value-based pricing strategies: why companies resist

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Journal of Business Strategy

Value-based pricing is the key driver of profitability. Yet, surprisingly, the vast majority of companies sets prices based on costs or competitors. Based on a survey of 126 managers worldwide we identify the main obstacles companies face in implementing value based pricing.  We then offer clear-cut indications on how to overcome these obstacles. 

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01 December 2007

Pricing Strategies for Multinational Companies in China

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Internationale Wettbewerbsstrategien, Springer Verlag 

Does value-based pricing work in China as well? We discuss pricing approaches in China and illustrate how a large Chinese B2B company successfully implements value-based pricing. 

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01 January 2006

Innovative Pricing-Strategien

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Managementkompass Preisstrategien, FAZ-Institut

Innovative und unternehmenswertsteigernde Pricing-Strategien orientieren sich in erster Linie am geschaffenen Kundennutzen und berücksichtigen erst in einem zweiten Schritt Wettbewerb und Kosten.

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01 November 2004

Towards value-based pricing – An integrative framework for decision making

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Industrial Marketing Management

Our masterpiece: I present a comprehensive framework for pricing decisions which considers all relevant dimensions for profitable and sustainable pricing decisions. Main focus is, of course, value-based pricing. 

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Publications

Pricing is the most important driver of profits; surprisingly, it is also the area most executives overlook.
This research shows how to overcome common Pricing misconceptions.
   Read more

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