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Mike Simonetto is the founder and global leader of Deloitte’s Pricing and Profitability Management Practice. He guest lectures at a number of leading graduate schools and international pricing seminars and has published numerous articles on pricing. He is an adjunct instructor for the Executive MBA Program at the University of North Carolina, Chapel Hill, spent a year managing a leading pricing software firm, and sits on the Advisory Board for the Professional Pricing Society. Mike currently resides in Atlanta, Georgia, with his wife Theresa, and spends whatever time he can in the mountains of North Carolina.
Larry Montan, Jr. is a director with Deloitte Consulting. His love of pricing takes him from the frozen tundra of Minnesota (where he was born and bred) to companies around the world to help them with the “soft side” of pricing. The soft side of pricing includes important capabilities such as developing strong pricing leadership, organizing people into high-performing pricing teams, building pricing skills, and helping the organization embrace the new discipline of pricing. Larry is a frequent presenter with the Professional Pricing Society.
Chris Goodin’s passion for the success of his clients—a diverse, global mix of leading retail and consumer goods companies—finds its foundation in a remarkably common pursuit: driving more profitable top-line sales growth. He helps companies improve their bottom line through advanced analytics, innovative pricing strategies, and smartly conceived pricing tactics. In addition to his work as a principal with Deloitte Consulting, Chris frequently speaks at industry conferences and lectures at Columbia University and Duke University. He resides in Chagrin Falls, Ohio, with his wife and three children.
Foreword | p. xi |
Acknowledgments | p. xv |
Introduction to Pricing and Profitability Management | p. 1 |
Pricing: The Critical Lever for Raising Performance | p. 2 |
Common Obstacles to Pricing and Profitability Management | p. 5 |
Understanding-and Leveraging-the Human Side of Pricing | p. 9 |
An Integrated Approach to Pricing: The Six Core Competencies | p. 11 |
Beginning the Journey: Key Questions to Ask | p. 16 |
Conducting a Pricing and Profitability Diagnostic | p. 23 |
The Case for a Diagnostic | p. 24 |
How to Execute a Diagnostic | p. 26 |
Consolidating Findings and Identifying Opportunities to improve Capabilities | p. 34 |
Challenges and Considerations | p. 38 |
Developing an Effective Pricing Strategy | p. 41 |
What Comprises a Successful Pricing Strategy? | p. 41 |
How to Make Value Your Focus-and Why | p. 45 |
Formulating a Value-Based Pricing Strategy | p. 48 |
Designing and Integrating an Effective Pricing Structure | p. 68 |
Identifying and Using the Principal Pricing Archetypes | p. 72 |
Critical Challenges Faced by Pricing Strategists | p. 82 |
Tips for Moving Forward | p. 85 |
Price Execution | p. 89 |
What Is Price Execution? | p. 90 |
Using the Best-Practice Pricing Process Framework | p. 91 |
Setting Policies to Reinforce Pricing Processes | p. 123 |
Tips for Moving Forward | p. 134 |
Advanced Analytics and Price Setting | p. 137 |
Building a Transaction-Level Data Set | p. 138 |
Conducting Transactional Profitability Assessments | p. 140 |
Integrating Cluster Analyses to Segment Customers, Products, and Services | p. 163 |
Assessing the Competition: Value Equivalency Analytics | p. 163 |
Demand-Based Optimization Modeling to Improve Price Setting | p. 167 |
Tips for Moving Forward | p. 178 |
Achieving Effective Organizational Alignment and Governance | p. 183 |
Five Key Components for Aligning a Pricing Organization | p. 184 |
Aligning Sales to Support Pricing and Profitability Goals | p. 185 |
Identifying and Empowering Pricing Leaders | p. 192 |
Designing Robust Organizational and Governance Structures | p. 197 |
Implementing Change Management and Adoption Processes | p. 204 |
Evaluating and Managing Pricing Talent | p. 215 |
Making the Organizational Commitment to Change | p. 223 |
Pricing Technology and Data Management | p. 225 |
What Is Pricing Software? | p. 226 |
The History of the Pricing Software Market | p. 232 |
Building a Business Case for Pricing Technology | p. 238 |
Selecting Pricing Management Software | p. 243 |
The Pricing Software Development Lifecycle | p. 249 |
Future Trends in Pricing Technology | p. 252 |
Pricing Technology Selection and Implementation Recommendations | p. 255 |
Integrating Tax and Regulatory Policies with the Pricing Strategy | p. 257 |
The Convergence of Tax and Pricing Strategy | p. 258 |
How to Integrate Pricing and Tax Functions-and Why | p. 262 |
Managing Pricing and Compliance Costs to Maximize Returns | p. 276 |
Navigating Regulatory Environments When Making Pricing Decisions | p. 279 |
Where to Go from Here? | p. 281 |
Pricing as a Sustainable Competitive Advantage | p. 285 |
Why Taking a Holistic Approach to Pricing Matters | p. 285 |
Bringing it All Together: A Case Study | p. 287 |
Emerging Trends in Pricing and Profitability Management | p. 294 |
Lessons Learned: Getting Pricing on the Executive Agenda | p. 298 |
Appendix What Is Value and Why Is It So Difficult to Measure? | p. 301 |
Index | p. 305 |
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