In this book the world's foremost experts on pricing integrate theoretical rigor and practical
application to present a comprehensive resource that covers all areas of the field. This volume
brings together quantitative and qualitative approaches and highlights the most current
innovations in theory and practice. Going beyond the traditional constraints of price theory
and price policy the authors coined the term price management to represent a holistic approach
to pricing strategy and tactical implementation. They remind us that the Ancient Romans used
one word pretium to mean both price and value. This is the fundamental philosophy that drives
successful price management where producer and customer meet. Featuring dozens of examples and
case studies drawn from their extensive research consulting and teaching around the world
Simon and Fassnacht cover all aspects of pricing following the price management process with
its four phases: strategy analysis decision and implementation. Thereby the authors take
into account the nuances across industry sectors including consumer goods industrial products
services and trade distribution. In particular they address the implications of technological
advancements such as the Internet and new measurement and sensor technologies that have led to
a wealth of price management innovations such as flat rates freemium pay-per-use or
pay-what-you-want. They also address the emergence of new price metrics Big Data applications
two-sided price systems negative prices and the sharing economy as well as emerging payment
systems such as bitcoin. The result is a bible for leaders who recognize that price is not only
a means to drive profit in the short term but a tool to generate sustained growth in
shareholder value over the longer term and a primer for researchers instructors and students
alike.Praise for Price ManagementThis book is truly state of the art and the most comprehensive
work in price management.- Prof. Philip Kotler Kellogg School of Management Northwestern
UniversityThis very important book builds an outstanding bridge between science and practice.-
Kasper Rorsted CEO AdidasThis book provides practical guidelines on value creation
communication and management which is an imperative for businesses to survive in the coming
era of uncertainty.- Dr. Chang-Gyu Hwang Chairman and CEO KT Corporation (Korea Telecom)
