Pricing and Profitability Management: A Practical Guide for Business Leaders - Hardcover

Meehan, Julie M.; Simonetto, Michael G.; Montan, Larry, Jr.; Goodin, Christopher A.

Hardcover

ISBN 10: 0470825278 ISBN 13: 9780470825273

Publisher: John Wiley & Sons Inc, 2011

Synopsis

The practical guide to using pricing and profitability management to build a better business

A comprehensive reference for any business professional looking to understand the capabilities and competencies required for effectively managing pricing and profitability, Pricing and Profitability Management explains how to determine the right approach, tools, and techniques for each of six key categories (pricing strategy, price execution, advanced analytics and optimization, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness). Exploring each category in detail, the book addresses how an integrated approach to pricing improvement can give a sustainable, competitive advantage to any organization.

The ultimate "how to" manual for any executive or manager interested in price management, the book presents a holistic, comprehensive framework that shows how integrating these pricing categories into a cohesive program leads to impressive gains that cannot be achieved through a single-pronged approach.

• Presents a comprehensive framework for more effectively managing pricing and profitability
• Identities the six key categories of pricing and profitability management
• Shows you how to gain a competitive edge by managing pricing and profitability

Taking a comprehensive view of pricing, companies can position themselves to tap a vast source of shareholder value—the ability to set and enforce profitable prices, not just once, but again and again in response to marketplace changes and evolving business needs—and this book will show you how.

About this title

About the Author

An international business consultant with Deloitte Consulting, Julie Meehan focuses on strategy development and operational improvement, including profit enhancement through pricing. She helps clients in diverse industries develop pricing and sales channel strategies, improve price execution, redesign pricing processes in Marketing, Sales, and Finance, and perform in-depth analytics to remedy issues of poor profitability. She frequently speaks on pricing at professional conferences and teaches at top U.S. MBA programs. Julie currently lives in Savannah, Georgia, with her husband and identical twin sons.

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.

From the Back Cover

Pricing, done well, offers companies new avenues and opportunities to improve their bottom lines, grow their businesses and make smarter decisions. This book captures the authors' pragmatic, results-focused approach to pricing—and explains how to do it very well. From its emphasis on deep analytics to its broad, holistic approach to creating pricing capabilities and results, this book offers the pricing professional (and all business people) a roadmap to more effective pricing.
Jeff Wallis
General Manager, Parts Sales and Marketing, Daimler Truck North America

In the aftermath of the latest economic recession, many companies are awakening to the power of pricing. In this book, the authors offer practical advice for managers and executives who are interested in leveraging the full power of pricing to improve their own bottom lines. Far from pure theory, it gives you the tools you need to effectively manage price for your organization, regardless of the economic climate.
Tim Belk
CEO, Belk Department Stores

The authors continue to lead the market with their comprehensive approach to improving pricing for their clients. Pricing and Profitability Management captures their practical thinking on the topic. We have seen their approach and capabilities first-hand working with our joint customers. It is a great read not only for those beginning their pricing journey but also for those who have been working on it for some time.
Neil Lustig
CEO and President, Vendavo

Pricing is a critical discipline that companies must perfect in order to consistently improve financial performance. An integrated approach like the one described in this book offers CEOs and CFOs a blueprint for ensuring that pricing remains a strategic asset for achieving business objectives. Full of insights that can only be gained from years of experience, Pricing and Profitability Management is must-read for anyone in an organization interested in maximizing the power of pricing.
Andres Reiner
President, Chief Executive Officer and Director, PROS

Pricing and Profitability Management breaks new ground in the comprehensiveness and analytical depth of its approach. This is an important book for senior decision-makers in companies who want to utilize the powerful economic and organizational forces associated with the authors' approach to pricing to significantly enhance the performance of their business.
James W. Dean, Jr.
Dean, Kenan-Flagler Business School, The University of North Carolina

Pricing and Profitability Management gives you a game plan to elevate pricing's effectiveness within your organization by clearly identifying common obstacles to improving profitability and addressing the proper strategies to overcome these obstacles. The authors' expertise across multiple geographies, industries, and organization types makes this book a must for senior managers and pricing practitioners alike.
Kevin Mitchell
President, The Professional Pricing Society (PPS)

From the Inside Flap

Pricing and profitability management may be the most powerful lever that managers can pull to give their businesses a competitive edge—in any economic climate. In fact, studies show that 90 percent of pricing investments meet or exceed return on investment (ROI) expectations. Put another way: for any dollar invested in performance improvement, the greatest return comes when it is invested in pricing. Yet despite its proven benefits, many companies still lack the internal capabilities, organizational structure, and information to take advantage of this critical function.

Pricing and Profitability Management touches virtually every corner of a business—Marketing, Sales, IT, Operations, Finance, Accounting, and Executive Leadership. The more an organization can focus on setting and achieving profitable prices, the better it will be able to respond effectively to changing customer, competitive environment, and market conditions. When properly implemented, the strategies discussed in this book can dramatically improve how a company views and operates its entire business.

This book demonstrates how a business can apply one of the most promising strategies available today to improve its performance. The experts from Deloitte Consulting LLP present a holistic, comprehensive framework that will enable companies to integrate the six essential pricing competencies (pricing strategy, advanced analytics and price setting, price execution, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness) into a cohesive program that can build a sustainable, competitive advantage and realize gains far beyond what can be achieved with a singular approach. The book offers a comprehensive introduction to effective pricing and profitability management and serves as a reference work for business leaders, professionals, and students who want to sharpen their capabilities and deepen their understanding of this key strategic discipline. It will change the way you think about pricing.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 2011
• Language: English
• ISBN 10: 0470825278
• ISBN 13: 9780470825273
• Binding: Hardcover
• Edition number: 1
• Number of pages: 310