Strategies for increasing profitability

BOOK TIP In the book "Price Excellence", the authors Patrick Pfäffli, John-Oliver Breckoff and Stefan Michel explain how important price is for profit, what elements the Price Excellence Framework consists of and how you can anchor price management as an integral part of your companyThe authors devote almost 370 pages to a single topic: price. Is that necessary, one might ask? After all, price is usually determined in passing or as the result of a simple cost-plus-margin calculation. Not so: Price, the authors argue, is not just a request for payment, but a value indicator, profit driver and buying signal for customers. The trio around IMD professor Stefan Michel lends weight to the plea for systematic price management with numerous case studies, graphics, and an excellently designed book and model structure. For example, they say that theatergoers who pay for their tickets by credit card are ten times more likely to skip a performance. But the reader only learns why this is the case and what this could mean for pricing several pages later. This salami tactic is a little irritating. Nevertheless, getAbstract recommends the book to anyone who wants to improve their pricing or establish strategic pricing in the company in the first place.getAbstract rating: 6Feasibility: 7Degree of innovation: 5Style: 5 Publisher: VersusPublication Year: 2015Pages: 368ISBN: 9783039091874