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Pricing Strategies and Discount Policy

In: Performance Excellence in Marketing, Sales and Pricing

Author

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  • Marc Helmold

    (IU, International University of Applied Sciences)

Abstract

Pricing management is the process of integrating all perspectives and information necessary to consistently arrive at optimal pricing decisions. It can be defined as the analysis, planning, determination, enforcement and monitoring of prices and conditions (conditions system). Price management should contribute to the achievement of the marketing and sales strategy and ultimately corporate goals (e.g. profit maximization) by setting (profit) optimal prices and conditions. The tasks of the price management are either taken over by special revenue managers, price managers or are partial tasks of the marketing managers. The central component is the price process. Therefore, strong price management capabilities result in effective management of financial risk and revenue (Simon & Fassnacht, 2019). Pricing management is the process of integrating all perspectives and information necessary to consistently arrive at optimal pricing decisions. The process incorporates the price strategy, price setting and price implementation as shown in Fig. 13.1. Sophisticated price management capabilities result in effective management of financial risk and revenue (Helmold, 2020).

Suggested Citation

  • Marc Helmold, 2022. "Pricing Strategies and Discount Policy," Management for Professionals, in: Performance Excellence in Marketing, Sales and Pricing, chapter 13, pages 133-146, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-10097-0_13
    DOI: 10.1007/978-3-031-10097-0_13
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