The Key to Higher Profits: Pricing Power
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About this ebook
You’re a C-level executive who wants to boost profits? Get more involved in pricing. A global Simon-Kucher & Partners survey of 2,700 executives showed how leaders’ actions increase pricing power. They set the right objectives, drive organizational and cultural changes to support pricing, and demand accountability for pricing strategy. This book’s four-step mandate will help you get started.
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Book preview
The Key to Higher Profits - Simon-Kucher & Partners
THE KEY TO HIGHER PROFITS:
PRICING POWER
Why executives should make pricing
their personal mission
By
Georg Tacke, David Vidal and Annette Ehrhardt
SMASHWORDS EDITION
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PUBLISHED BY
Simon-Kucher & Partners
THE KEY TO HIGHER PROFITS:
PRICING POWER
Copyright © 2013 by Simon-Kucher & Partners
Thank you for downloading this free eBook. Although this is a free book, it remains the copyrighted property of the authors and may not be reproduced, scanned, or distributed for any commercial or non-commercial use without permission from the authors. Quotes used in reviews are the exception. No alteration of content is allowed. The authors have also acquired all necessary rights to the third-party artwork used in this book. If you enjoyed this book, then please encourage others to download their own free copy.
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Contents
Why executives should make pricing their personal mission
Change #1: Establish and enforce clear accountability for pricing strategy
Change #2: Support the development of a pricing organization with well-defined pricing processes
Change #3: Ensure that your revenue models reflect both the value you deliver and the costs you incur
Change #4: Communicate your pricing strategy and pricing identity
Your next steps: So... how will you make pricing personal?
About the authors
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THE KEY TO HIGHER PROFITS:
PRICING POWER
Why executives should make pricing
their personal mission
****
INTRODUCTION
Why executives should make pricing
their personal mission
Imagine a world in which over 80% of companies have come under increased pricing pressure, and almost 60% of companies are embroiled in a hot
price war. The vast majority of companies feel they can’t justify a price increase above current levels of inflation. Even when they dare to raise prices at all, they manage to get only half of what they ask for.
What you just imagined is real.
These discouraging circumstances describe day-to-day life right now for thousands of companies around the world. At a time when every dollar, Euro, yen, or yuan in profit is precious, even some of the world’s most prominent companies, such as consumer products giant Procter & Gamble, often struggle to make price increases stick. This struggle reflects