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- Title
Mut zur Preisanpassung: Erfolgreich gegen den Inflationstrend.
- Authors
Reinecke, Sven; Tombach, Alexander
- Abstract
The article "Courage for price adjustments: Successfully countering the inflation trend" examines how executives can implement price increases and maintain the profitability of their companies. Four areas of action are identified: information management, process optimization, product and customer portfolio, and marketing communication. Companies should take measures to enforce price increases and ensure profitability. A task force consisting of executives from various functions can help make data-driven and quick price decisions. Systematically tapping into market potentials and developing the customer and performance portfolio are crucial for success in times of high inflation. It is emphasized that value-based pricing is hardly possible for standardized services such as catalog products with fixed prices. It is also pointed out that price differentiation should be ethically examined in order not to disproportionately burden customers with low incomes. Companies should create a market intelligence dashboard to quickly capture and communicate developments in the external business environment. Furthermore, the importance of clear and transparent price communication is emphasized in order to positively influence perceived price fairness.
- Subjects
MARKETING; FIXED prices; PRICES; PRICE increases; MARKETING strategy; TASK forces
- Publication
Marketing Review St. Gallen, 2024, Issue 1, p52
- ISSN
1865-6544
- Publication type
Article