{"id":4998,"date":"2025-10-27T13:44:09","date_gmt":"2025-10-27T13:44:09","guid":{"rendered":"https:\/\/local.gress-marketing.de\/pricing-strategies-do-you-have-a-consciously-chosen-pricing-strategy\/"},"modified":"2025-11-19T21:20:19","modified_gmt":"2025-11-19T21:20:19","slug":"pricing-strategies-do-you-have-a-consciously-chosen-pricing-strategy","status":"publish","type":"post","link":"https:\/\/local.gress-marketing.de\/en\/pricing-strategies-do-you-have-a-consciously-chosen-pricing-strategy\/","title":{"rendered":"Pricing Strategies: Do You Have a Consciously Chosen Pricing Strategy?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4998\" class=\"elementor elementor-4998 elementor-4588\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a0ec18b e-con-full e-flex e-con e-parent\" data-id=\"a0ec18b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-aa9f253 e-flex e-con-boxed e-con e-child\" data-id=\"aa9f253\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c58c339 elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget elementor-widget-heading\" data-id=\"c58c339\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Pricing Strategies: Do You Have a Consciously Chosen Pricing Strategy?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f734673 elementor-mobile-align-center elementor-align-left elementor-widget elementor-widget-button\" data-id=\"f734673\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/local.gress-marketing.de\/en\/contact\/#kontakt\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Arrange a meeting<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f81b3f9 e-flex e-con-boxed e-con e-child\" data-id=\"f81b3f9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5ab9632 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"5ab9632\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;exclude_headings_by_selector&quot;:&quot;#inhaltsverzeichnis,#newsletter&quot;,&quot;marker_view&quot;:&quot;bullets&quot;,&quot;icon&quot;:{&quot;value&quot;:&quot;&quot;,&quot;library&quot;:&quot;&quot;},&quot;no_headings_message&quot;:&quot;Es wurden keine \\u00dcberschriften auf dieser Seite gefunden.&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__5ab9632\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__5ab9632\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__5ab9632\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<svg class=\"elementor-toc__spinner eicon-animation-spin e-font-icon-svg e-eicon-loading\" aria-hidden=\"true\" viewBox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M500 975V858C696 858 858 696 858 500S696 142 500 142 142 304 142 500H25C25 237 238 25 500 25S975 237 975 500 763 975 500 975Z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-77b880d e-con-full e-flex e-con e-child\" data-id=\"77b880d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d9740fa elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"d9740fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Executive Summary<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2ad6af7 e-con-full e-flex e-con e-child\" data-id=\"2ad6af7\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9452b1b elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"9452b1b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">Many companies focus on <i>prices<\/i>, but not on <i>pricing<\/i>. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc0107a elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"bc0107a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">The <b>pricing strategy<\/b> determines <span class=\"s1\"><b>how prices are created<\/b><\/span> \u2013 e.g., via costs, competition, or perceived value. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b7fce1 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5b7fce1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">The <span class=\"s1\"><b>pricing strategy<\/b><\/span>, on the other hand, determines <span class=\"s1\"><b>how the ability to price<\/b><\/span> is built up in the company \u2013 i.e., processes, systems, and skills that lead to better pricing decisions on a permanent basis.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ada19ac elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ada19ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">Only those who understand pricing as a <span class=\"s1\"><b>strategic core competence<\/b><\/span> can specifically control prices, capture value, and win sustainably. Because: Without the appropriate skills and management systems, every pricing strategy remains just theory \u2013 or, as Roger L. Martin says, <i>a fantasy instead of a strategy.<\/i> <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-eba6f64 e-flex e-con-boxed e-con e-parent\" data-id=\"eba6f64\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1245653 e-con-full e-flex e-con e-child\" data-id=\"1245653\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8ae4e0c elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"8ae4e0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Introduction: Pricing strategy for products and pricing strategy for your company \u2013 what is the difference?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca797f0 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ca797f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>When we talk about pricing strategies, we often mean the determination of fundamental decisions in pricing policy \u2013 such as a high-price or low-price strategy. The core question of the pricing strategy is how prices are set for products or services. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e52f98 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5e52f98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The pricing strategy, on the other hand, refers to the function &#8220;Pricing&#8221; or &#8220;Price Management&#8221; in the company. The core question of the pricing strategy is how the ability to set prices is built up and organized in the company. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8977743 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"8977743\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In retail and e-commerce, both perspectives must be worked out with a specific industry reference.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c7e2773 e-con-full elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile e-flex e-con e-child\" data-id=\"c7e2773\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-16f9dc7 e-con-full e-flex e-con e-child\" data-id=\"16f9dc7\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-a155e47 e-con-full e-flex e-con e-child\" data-id=\"a155e47\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d055a84 e-flex e-con-boxed e-con e-parent\" data-id=\"d055a84\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-91a92ab e-con-full e-flex e-con e-child\" data-id=\"91a92ab\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-eb06cb5 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"eb06cb5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">I. PRICING STRATEGY: HOW DO WE SET PRICES?<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6209757 e-con-full e-flex e-con e-child\" data-id=\"6209757\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1515065 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"1515065\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\"><strong>The pricing strategy determines the fundamental decisions regarding the formation of prices.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-caa2e0e elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"caa2e0e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>It begins with the fundamental decisions of the pricing strategy and specifies them in pricing tactics (also called pricing concepts), which are then broken down into concrete pricing logics for price calculation.<br> <br><br> <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b06ed2 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"9b06ed2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We consider this hierarchy in pricing in the following sections.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ef887d1 e-flex e-con-boxed e-con e-parent\" data-id=\"ef887d1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-67dde87 e-con-full e-flex e-con e-child\" data-id=\"67dde87\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42c2919 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"42c2919\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. Pricing strategy: The orientation of the pricing policy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3db9363 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"3db9363\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In pricing strategies, fundamental decisions are made regarding pricing. These decisions are based, among other things, on the strategic competitive advantage defined by senior management, which affects the entire marketing mix \u2013 even beyond the company. The appropriate pricing strategy is selected, which corresponds to the company context and the company goals. Over time, it should be regularly checked whether the &#8220;best pricing strategy&#8221; in the current context is still being pursued. This review of the correct pricing strategy usually takes place annually in a so-called &#8220;Pricing Strategy Review&#8221;.    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b75eafb elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"b75eafb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>These decision dimensions and possible characteristics in the various pricing strategies are described below. It is important to keep in mind that not all types of pricing strategies are equally relevant for a company in retail, wholesale, or e-commerce. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b2225b elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"4b2225b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.1 Price level strategies: High-price strategy or low-price strategy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60fdad5 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"60fdad5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Price level strategies refer to the positioning of the relative price level compared to relevant competitors. This price positioning corresponds to a brand positioning that is as congruent as possible. As classic examples in the food retail sector, (hard &amp; soft) discounters rely on a low-price strategy, while supermarkets focus on a mid-price range and organic food stores pursue a high-price strategy.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f0a6a9 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"5f0a6a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.2 Pricing strategies in the product life cycle: Penetration strategy or skimming strategy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e28f8f elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"6e28f8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Dynamic pricing strategies refer to the conscious change in the price level over time. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67b728a elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"67b728a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Skimming strategies begin with a relatively high price level that decreases over time. The economic logic is that a higher willingness to pay \u2013 for example, from &#8220;early adopters&#8221; \u2013 is skimmed off accordingly in order to reach customers with a lower willingness to pay with the subsequent price reduction.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8bdeb85 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"8bdeb85\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Penetration strategies deliberately rely on a low introductory price for new products in order to win as many customers as possible and achieve a relatively high market share early on. The sales volumes should lead to cost advantages (&#8220;economies of scale&#8221;), which in turn should build up barriers to entry into the market for competitors. This price is dynamically increased at a later point in time.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2b5dd1 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"f2b5dd1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.3 Cost-oriented pricing strategy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a460587 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a460587\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The cost-oriented pricing strategy refers to the calculation basis of pricing. This strategy is based on the costs for the production (for producers) or the purchase (for merchandise) of products or the provision of services. A profit margin is added to these production costs or purchase prices, which should lead to a profitability that is appropriate from the company&#8217;s point of view. In practice, different levels of contribution margin accounting are taken into account as a cost basis \u2013 from pure variable unit costs to an almost proportional full cost accounting. Cost-oriented pricing strategies are simple to implement and apply, but do not necessarily ensure that the price determined in this way is competitive and that the perceived value or the willingness to pay of the target customers is taken into account. This leads us to a competition-oriented strategy in the determination of prices.     <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2976e89 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"2976e89\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.4 Competition-oriented pricing strategy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f8c9e6 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"8f8c9e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The competition-oriented pricing strategy sets prices for products and services in relation to the prices of the competition. The price difference can be &#8220;zero&#8221;, but it does not have to be. Companies can take into account a price difference for each individual competitor that is considered relevant. This price difference can be positive if, for example, the brand perception is higher compared to the respective competitor. However, the price difference can also be negative, so that a price below that of a competitor is maintained in accordance with the brand position.    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26bdaa0 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"26bdaa0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.5 Price initiative strategies: Price follower or price leader<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c56ec1f elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"c56ec1f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The competition-oriented pricing strategy raises the question of which of the market participants takes the initiative in the event of price changes and which competitors then follow. You make the decision as to whether you want to cancel the current relative price level between the market participants and consciously increase or decrease prices. This decision is often preceded by scenario analyses that anticipate how the competition will react, what relative price levels will result from this, and how the market shares will shift in sales.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b136bae elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"b136bae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1.6 Value-based pricing strategy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14cc51c elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"14cc51c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A cost- or competition-oriented pricing strategy only leads to optimal prices by chance. We remember: Price and value are the two sides of the same coin. Customers are (maximally) willing to pay the price for a product or service that corresponds to the perceived value. Why should customers pay more for an offer than it is worth from their point of view? The perception of value and the resulting willingness to pay vary depending on the target group of customers.    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad36150 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ad36150\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A related concept to value perception is the importance of price from the customer&#8217;s point of view for the purchase decision. Simply put, there is greater scope for design in pricing if the price is less relevant for customers. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5294814 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5294814\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Why is a cost-oriented pricing strategy not optimal?<\/strong><\/p><p>Suppose you develop a new feature for a product. From the customer&#8217;s point of view, this feature justifies a price surcharge of 100 euros. However, this price surcharge can be below or above your target margin. If the additional willingness to pay of your customer target group is above a profit surcharge that is appropriate from your point of view, you will offer the product too cheaply. If the willingness to pay is below an appropriate profit surcharge, the price will be set too high. In the latter case, you could have already incorporated the value perception, the willingness to pay, and the expected pricing into the product development.     <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40f4299 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"40f4299\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Why are competition-oriented pricing strategies not optimal?<\/strong><\/p><p>A consistently competition-oriented pricing reduces the customer decision to the dimension &#8220;price&#8221;. These pricing strategies overlook the &#8220;value&#8221; of products and services from the customer&#8217;s point of view, which varies depending on the offer from retailers. Likewise, a competition-oriented pricing (just like cost-oriented pricing strategies) neglects the possibility of price differentiation within its own product range.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be96ab2 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"be96ab2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In short: If the value perception from the customer&#8217;s point of view is taken into account, the own pricing can be done much more &#8220;surgically accurate&#8221; than with a pure focus on the own costs and the prices of the competition.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1e54970 e-flex e-con-boxed e-con e-parent\" data-id=\"1e54970\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0e29882 e-con-full e-flex e-con e-child\" data-id=\"0e29882\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c1a123a elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"c1a123a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Pricing tactics: The implementation of the pricing strategy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e90d7e4 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"e90d7e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The pricing strategy has been developed. But in what way should prices be set? Which &#8220;guiding principles&#8221; guide the determination of prices?  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2cfd1bd elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"2cfd1bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Within a defined pricing strategy, pricing tactics are used to further increase the effectiveness of the underlying strategy. We highlight two classes of pricing tactics in this article. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-938455d elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"938455d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2.1 Price differentiation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb01426 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"cb01426\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tactics of price differentiation set prices and relative price levels for articles and sub-ranges (e.g. subcategories and sub-product groups) at different levels. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38afb3c elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"38afb3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>This price differentiation is based on the willingness to pay and the price expectations of customers. In retail, wholesale, and e-commerce, prices are differentiated according to various dimensions &#8211; these include: <\/p><ul><li>within the <strong>range<\/strong>, prices are differentiated according to the roles of the articles<\/li><li>Prices for the same products are differentiated <strong>according to distribution channels<\/strong> (e.g. stationary branches, online channel, distribution\/sales)<\/li><li>Prices for the same distribution channel are differentiated <strong>according to individual sales outlets<\/strong> (e.g. according to branches and branch clusters)<\/li><li>Prices are differentiated <strong>according to customers<\/strong> and customer groups (e.g. via customer-specific price lists in B2B wholesale or via personalized coupons in retail)<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b3806e elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"7b3806e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>These price differentiations offer sales, turnover, and profitability potentials that result compared to an undifferentiated, &#8220;average&#8221; price decision (&#8220;one price fits all&#8221;).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec653c3 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"ec653c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2.2 Dynamic pricing<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab91b72 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ab91b72\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Dynamic pricing means that prices are adjusted over time to the respective price-determining context. If the influencing factors on pricing change, the price reacts accordingly to these developments.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aede1ef elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"aede1ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Dynamic pricing is commonly equated with frequent price changes. This is not a mandatory characteristic of dynamic pricing. In this context, we speak more aptly from our point of view of an &#8220;adaptive pricing&#8221;. Even if the input variables in pricing are frequently collected and evaluated, it can be decided that prices should maintain a certain stability if this price stability in itself provides a value from the customer&#8217;s point of view.   <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-58bf04b elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"58bf04b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Dynamic pricing is primarily a technically supported pricing tactic that ensures that the own pricing is close to the intended target prices. This approach &#8211; also referred to as &#8220;dynamic pricing strategies&#8221; &#8211; can be based on both rule-based and algorithmic price optimization. We consider both classes of pricing logic in the following section.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-03cff60 e-flex e-con-boxed e-con e-parent\" data-id=\"03cff60\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1a2131c e-con-full e-flex e-con e-child\" data-id=\"1a2131c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3f2cb84 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"3f2cb84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Pricing logic: The concrete pricing<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea9e199 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ea9e199\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The calculation and determination of the prices for individual products are carried out according to the pricing logic. Here we distinguish two basic approaches. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-908654e elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"908654e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3.1 Rule-based pricing<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-453e37b elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"453e37b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In rule-based pricing, decision trees are created. These decision trees usually consist of two parts. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a609b8e elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a609b8e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The first part determines the scenario for which a pricing rule is to apply. This is the so-called differentiation layer. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0cfd1e8 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"0cfd1e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The second part defines the actual rule. Price rules consist of (1) equalization rules, (2) maximum rules, and (3) minimum rules. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c82999 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"2c82999\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A simple example could be: For &#8220;corner articles&#8221; in the area of &#8220;dairy products&#8221; (e.g. 1 l, 1.5% fat content, private label) [= identification layer]<\/p><ul><li>set the price at the level of &#8220;Competitor ABC&#8221; [= equalization rule],<\/li><li>limit the price to the price of the corresponding branded product [= maximum rule] and<\/li><li>increase to the price of the minimum margin, if necessary [= minimum rule]<\/li><\/ul><p>Price rules help to establish uniform procedures in pricing, to document expert knowledge, and to scale price calculations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de2c2ca elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"de2c2ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3.2 Algorithmic price optimization<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a51f39 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"3a51f39\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Algorithmic price optimization goes beyond rule-based pricing. Instead of static price rules that have been configured by experts, algorithmic price optimization starts with a range of possible prices. In extreme cases, this range can range from the purchase price (PP) as the lower limit and the recommended retail price as the upper price limit.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb28e61 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"eb28e61\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In this price range, an algorithm finds an optimal price. The business manager not only specifies the price range (&#8220;guardrails&#8221;) to the algorithm, but also defines the optimization direction. This optimization direction \u2013 mathematically referred to as the objective function \u2013 is usually based on financial control variables (KPIs) that can be in conflict with each other: sales, turnover, and profit (contribution margin).   <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78be975 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"78be975\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Therefore, the objective function defines a target variable that is to be maximized, while a minimum level is defined for the other target variables. For example, the optimization algorithm can set the prices in such a way that a sales growth of 2% is maintained, while the contribution margin is maximized.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc8720c elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"fc8720c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><em>Pricing strategies<\/em> focus on pricing. The <g id=\"gid_1\">pricing strategy<\/g> focuses on &#8220;pricing&#8221; or &#8220;price management&#8221; as an entrepreneurial function. We will take this perspective in the following section.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ea3e15c e-flex e-con-boxed e-con e-parent\" data-id=\"ea3e15c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f4e4ccf e-con-full e-flex e-con e-child\" data-id=\"f4e4ccf\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-20b3707 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"20b3707\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">II. PRICING STRATEGY: PRICING AS AN ENTREPRENEURIAL CORE COMPETENCE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca5d283 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"ca5d283\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. What exactly is a corporate strategy?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2de0bff elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"2de0bff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>How important is pricing as a function and as an entrepreneurial skill for your business success?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c61331 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"3c61331\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>What role does pricing play in your corporate strategy?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56aa51a elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"56aa51a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>What do we understand by strategy at all?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8ca2dc elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a8ca2dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>According to a classic definition, strategy means creating a unique and valuable position that requires a different set of activities.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ca6d32 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5ca6d32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>[Original: &#8220;Strategy is the creation of a unique and valuable position, involving a different set of activities.&#8221; &#8211; Porter, M. E. (1996). What is a strategy? <em>Harvard Business Review<\/em>, November, 74(6), 61-78] <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0eb002 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"e0eb002\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In order to achieve a competitive advantage, a company must perceive other activities and do things differently. This may sound like a truism \u2013 but fundamental truths do not necessarily have to be complicated. The opposite is often the case.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f00f855 e-flex e-con-boxed e-con e-parent\" data-id=\"f00f855\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5afd2c9 e-con-full e-flex e-con e-child\" data-id=\"5afd2c9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7103cb1 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"7103cb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. How does the pricing strategy fit into the corporate strategy?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a201735 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a201735\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In their book &#8220;Playing to Win&#8221;, Alan G. Lafley and Roger L. Martin, both proven experts in corporate management and strategy, describe: &#8220;<strong>Basically, strategy is about making targeted decisions to win in the market.<\/strong> (&#8230;) Strategy therefore means making conscious decisions \u2013 to do some things and not others \u2013 and building the company around these decisions. In short, strategy is choice. More specifically, strategy is an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition.&#8221;  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a6427ae elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a6427ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>[Original: \u201cReally, strategy is about making specific choices to win in the marketplace. (\u2026) Strategy, therefore, requires making explicit choices\u2014to do some things and not others\u2014and building a business around those choices. In short, strategy is choice. More specifically, strategy is an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition.\u201d &#8211; Lafley, A. G.; Martin, R. L. (2013): <em>Playing to Win: How Strategy Really Works<\/em>, HBR Press (p. 11)]<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4bf9349 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"4bf9349\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>To this end, the authors describe five choice decisions and questions (&#8220;Choices&#8221;) that companies should answer in the strategy development process (ibid, p. 24).<\/p><ol><li class=\"p1\"><strong><span class=\"s1\">What is our <\/span>winning aspiration<\/strong><span class=\"s1\"><strong>?<\/strong> <\/span>The purpose of our company \u2013 our motivating objective.<\/li><li class=\"p1\"><b>Where will we play? <\/b><b><\/b>A playing field on which we can achieve this aspiration.<\/li><li class=\"p1\"><b>How will we win? The way to win on the chosen playing field. <\/b><\/li><li class=\"p1\"><b>What skills must be present? <\/b>The selection and alignment of the skills required to win in the chosen way.<\/li><li class=\"p1\"><b>What management systems are required? <\/b><b><\/b>The systems and metrics that enable the skills and support the decisions made.<\/li><\/ol><p> <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b86064a elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"b86064a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Roger L. Martin succinctly captures this compelling need to become concrete in strategic implementation:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-015d33e elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"015d33e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\u201cAnd \u2018capabilities and management systems\u2019 act as a reality check on the \u2018where to play\u2019 and \u2018how to win\u2019 choices. <strong>If you can\u2019t identify a set of \u2018capabilities and management systems\u2019 that you currently have, or can reasonably build, to make the \u2018where to play\u2019 and \u2018how to win\u2019 choices come to fruition, you have a fantasy, not a strategy.<\/strong>\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63e55fb elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"63e55fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>[Original: \u201cAnd \u2018capabilities and management systems\u2019 act as a reality check on the \u2018where to play\u2019 and \u2018how to win\u2019 choices. If you can\u2019t identify a set of \u2018capabilities and management systems\u2019 that you currently have, or can reasonably build, to make the \u2018where to play\u2019 and \u2018how to win\u2019 choices come to fruition, you have a fantasy, not a strategy.&#8221; &#8211; Martin, R. L. (2020): <em>Five Questions to Build a Strategy<\/em> in HBR Guide to Setting Your Strategy, HBR Press (p. 95)]<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a531bd8 e-con-full e-flex e-con e-child\" data-id=\"a531bd8\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e8551c5 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"e8551c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Pricing and price management are a core capability that supports the aforementioned questions 4 and 5 and must be considered in the corporate strategy.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8e5c46b e-flex e-con-boxed e-con e-parent\" data-id=\"8e5c46b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-33aa33a e-con-full e-flex e-con e-child\" data-id=\"33aa33a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a915149 elementor-widget__width-inherit elementor-widget-tablet__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-heading\" data-id=\"a915149\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Questions for reflection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25de83a elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"25de83a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>How is your pricing strategy defined and how is it communicated within the company?<\/li><li>How do you practically implement your pricing strategy \u2013 in pricing tactics, pricing logics, systems, processes, and tools?<\/li><li>How do you measure whether your pricing strategy &#8220;works&#8221;?<\/li><li>What priority and role does pricing play in your company?<\/li><li>Are pricing and price management core competencies in your company \u2013 or should they be?<\/li><li>How does pricing as an entrepreneurial capability support your corporate strategy and your financial level of aspiration today \u2013 and what contribution should pricing make?<\/li><li>Where do you see the greatest potential in building competencies and capabilities in price management and in pricing as an entrepreneurial function and core competence?<\/li><li>How are you consciously and purposefully developing your pricing in the company today?<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca66468 elementor-widget__width-inherit elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ca66468\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>If you would like to discuss the added value of an intelligent pricing strategy without obligation, please arrange a meeting with us.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de99030 elementor-mobile-align-center elementor-align-center elementor-widget elementor-widget-button\" data-id=\"de99030\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/local.gress-marketing.de\/en\/contact\/#kontakt\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Arrange a meeting<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a1fcd00 e-flex e-con-boxed e-con e-parent\" data-id=\"a1fcd00\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-41002b7 elementor-widget elementor-widget-post-navigation\" data-id=\"41002b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation\" role=\"navigation\" aria-label=\"Post Navigation\">\n\t\t\t<div class=\"elementor-post-navigation__prev 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data-id=\"27ec157\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d7a62de elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"d7a62de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>PMI Newsletter<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04fe89e elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"04fe89e\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"newsletter\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Pricing impulse directly to your mailbox<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23d1d7e elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"23d1d7e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Receive regular first access to:<\/strong><\/p><ul><li>Case studies of real pricing transformations<\/li><li>Proven methods for systematic control of margin and sales<\/li><li>Concrete tips for professionalizing your pricing function<\/li><li>Exclusive studies of the Price Management Institute<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2a8018 elementor-button-align-start elementor-mobile-button-align-center elementor-widget elementor-widget-form\" data-id=\"e2a8018\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"New Form\" aria-label=\"New Form\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"4998\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"e2a8018\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"Pricing Strategies: Do You Have a Consciously Chosen Pricing Strategy?\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"4998\"\/>\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label 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