Pricing
Pricing ROI, pricing capabilities and firm performance
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- Created on Wednesday, 01 July 2015 00:00
- Written by Andreas Hinterhuber, Stephan Liozu
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.
Value assessment and pricing capabilities - how to profit from value
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- Created on Wednesday, 01 July 2015 00:00
- Written by Magnus Johansson, Joona Keränen, Andreas Hinterhuber, Stephan Liozu, Linn Andersson
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.
Violations of rational choice principles in pricing decisions
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- Created on Friday, 01 May 2015 00:00
- Written by Andreas Hinterhuber
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.
Value-based pricing: Il prezzo migliore
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- Created on Friday, 01 May 2015 00:00
- Written by Andreas Hinterhuber, Evandro Pollono
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.
Is innovation in pricing your next source of competitive advantage?
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- Created on Thursday, 01 May 2014 00:00
- Written by Andreas Hinterhuber, Stephan Liozu
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.
Organizational design and pricing capabilities for superior firm performance
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- Created on Wednesday, 01 January 2014 00:00
- Written by Stephan Liozu, Andreas Hinterhuber, Toni Somers
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.
Pricing capabilities: the design, development, and validation of a scale
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- Created on Wednesday, 01 January 2014 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
Willingness to pay is a fluid concept
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- Created on Wednesday, 01 January 2014 00:00
- Written by Andreas Hinterhuber
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.
¿Ha llegado el momento de repensar nuestra estrategia de precios?
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- Created on Wednesday, 01 January 2014 00:00
- Written by Andreas Hinterhuber, Stephan Liozu
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.
The confidence factor in pricing: driving firm performance
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- Created on Monday, 01 July 2013 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
By itself, market share leadership isn’t worth a dime
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- Created on Monday, 01 July 2013 00:00
- Written by Andreas Hinterhuber
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.
CEO championing of pricing, pricing capabilities, and firm performance in industrial firms
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- Created on Wednesday, 01 May 2013 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
Pricing orientation, pricing capabilities, and firm performance
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- Created on Wednesday, 01 May 2013 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
Do you even have a pricing strategy?
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- Created on Friday, 01 February 2013 00:00
- Written by Andreas Hinterhuber, Stephan Liozu
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.
Strategisches Preismanagement zur kurzfristigen Ergebnisverbesserung
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- Created on Wednesday, 01 August 2012 00:00
- Written by Andreas Hinterhuber
Newsletter der Nürnberger Akademie für Absatzwirtschaft
Eine Einführung in Preismanagement. Gutes Preismanagement bestimmt Preise nach Kundenwert und nicht nach Kosten oder Konkurrenzpreisen.
An empirical analysis of the role of industrial brands for industrial distributors
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- Created on Sunday, 01 July 2012 00:00
- Written by Andreas Hinterhuber, Giulia Hinterhuber
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.
Industrial product pricing: a value-based approach
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- Created on Sunday, 01 July 2012 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
Is It Time to Rethink Your Pricing Strategy?
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- Created on Sunday, 01 July 2012 00:00
- Written by Andreas Hinterhuber, Stephan Liozu
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.
Mindful pricing: transforming organizations through value-based pricing
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- Created on Friday, 01 June 2012 00:00
- Written by Stephan Liozu, Andreas Hinterhuber, Sheri Perelli, Richard Boland
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.
Chief Pricing Officer – Der den Preis steuert
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- Created on Tuesday, 01 May 2012 00:00
- Written by Andreas Hinterhuber
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.
Pricing strategies and pricing capabilities
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- Created on Sunday, 01 January 2012 00:00
- Written by Magnus Johansson, Niklas Hallberg, Andreas Hinterhuber, Mark Zbaracki, Stephan Liozu
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.
Strategic B2B pricing
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- Created on Sunday, 01 January 2012 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
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.
The conceptualization of value-based pricing in industrial firms
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- Created on Sunday, 01 January 2012 00:00
- Written by Stephan Liozu, Andreas Hinterhuber, Richard Boland, Sheri Perelli
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.
Primero el valor
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- Created on Saturday, 01 October 2011 00:00
- Written by Andreas Hinterhuber, Marco Bertini
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.
Strategisches Preismanagement –Interview
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- Created on Sunday, 01 May 2011 00:00
- Written by Andreas Hinterhuber
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.
Pricing approaches at industrial companies: cost- versus value-based pricing
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- Created on Sunday, 01 May 2011 00:00
- Written by Stephan Liozu, Andreas Hinterhuber
Velocity (Strategic Account Management Association)
Our research reveals some fundamental differences between companies practicing cost-based pricing and companies successfully practicing value-based pricing.
Gutes darf mehr kosten
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- Created on Friday, 01 April 2011 00:00
- Written by Andreas Hinterhuber
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.
Profiting When Customers Choose Value Over Price
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- Created on Tuesday, 01 March 2011 00:00
- Written by Andreas Hinterhuber, Marco Bertini
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.
Die Flieger als Vorbild
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- Created on Saturday, 01 May 2010 00:00
- Written by Andreas Hinterhuber
Südtiroler Wirtschaftszeitung
Änderungen im Preis haben einen stärkeren Einfluss auf das Unternehmensergebnis als Änderungen von Umsatz oder Kosten. Ein Interview zu gutem Preismanagement.
Valor = precio
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- Created on Friday, 01 January 2010 00:00
- Written by Andreas Hinterhuber
HSM Management
Cómo vencer las resistencias e implementar estrategias de determinación de precios basadas en el valor para el cliente.
Der Preis ist heiß
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- Created on Sunday, 01 February 2009 00:00
- Written by Andreas Hinterhuber
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?“
Pricing und Kundenzufriedenheit
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- Created on Thursday, 01 January 2009 00:00
- Written by Andreas Hinterhuber
Kundenorientierte Unternehmensführung, Gabler Verlag
Pricing hat einen dramatischen Einfluss auf den Unternehmenserfolg. Wir präsentieren ein Rahmenmodell zur Erarbeitung und Umsetzung von kundenwertoriertiertem Preismanagement.
Value delivery and value-based pricing in industrial markets
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- Created on Saturday, 01 November 2008 00:00
- Written by Andreas Hinterhuber
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.
Customer value-based pricing strategies: why companies resist
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- Created on Tuesday, 01 July 2008 00:00
- Written by Andreas Hinterhuber
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.
Pricing Strategies for Multinational Companies in China
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- Created on Saturday, 01 December 2007 00:00
- Written by Andreas Hinterhuber
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.
Innovative Pricing-Strategien
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- Created on Sunday, 01 January 2006 00:00
- Written by Kurt Matzler, Andreas Hinterhuber
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.
Towards value-based pricing – An integrative framework for decision making
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- Created on Monday, 01 November 2004 00:00
- Written by Andreas Hinterhuber
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.
STRATEGIC PRICING IN B2B INDUSTRIES
Methods and tools for rapidly improving profits via pricing strategies and tacticsSTRATEGIC NEGOTIATION WITH BUSINESS CASES FROM HARVARD UNIVERSITY
How to improve negotiations with customers, suppliers, employees and other commercial partnersNEW PRODUCT PRICING
Strategies and tools to set the right price for newly introduced goodsQUANTIFYING AND DOCUMENTING VALUE IN B2B MARKETS
Tools and strategies to establish, demonstrate and sustain the value of the offeringCopyright 2012 by HINTERHUBER & PARTNERS
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