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Pricing Process Part 1: Analysis

In: Digital Pricing

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  • Frank Frohmann

Abstract

The pricing process is one of the most important value creation activities of companies. The process begins with a comprehensive analysis of all pricing-relevant data. It translates the strategy—which follows the analysis—into concrete pricing decisions (price points, differentiation approaches, innovative price models, etc.). These form the starting point for shaping price negotiations and enforcing prices on the market. Pricing processes consist of numerous challenges that vary in importance depending on the sector (B2C, B2B, C2M, C2C), industry, and company. Monetization (“value extraction”) and value creation (“value generation”) can be achieved equally with this management process. Every pricing and product decision should be based on a measurement of customer value. However, costs and competitive conditions must also be included. At the core of the analysis phase are 11 essential pieces of information. These can be symbolized by the “11 C” of pricing.

Suggested Citation

  • Frank Frohmann, 2023. "Pricing Process Part 1: Analysis," Management for Professionals, in: Digital Pricing, chapter 5, pages 103-115, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-24591-6_5
    DOI: 10.1007/978-3-031-24591-6_5
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